KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Feb 25): The FBM KLCI closed 3.16 points or 0.18% higher today at its intraday high on bargain hunting and after news reports indicated US President Donald Trump as saying he will delay an increase in tariffs on Chinese goods, due to productive trade talks.
At 5pm, the KLCI closed at 1,724.58 points on bargain hunting, after falling to its intraday low 1,717.41. The KLCI closed higher, lifted by KLCI stocks, including Petronas Dagangan Bhd and Malaysia Airports Holdings Bhd.
Petronas Dagangan and Malaysia Airports ended among Bursa Malaysia top gainers.
The KLCI could have also taken cue from Mainland China shares, which closed substantially higher today on news of the tariff delay. The Shanghai Stock Exchange Composite rose 5.6%, while the CSI300 gained 5.9%.
Reuters reported a surge in Shanghai shares led Asia higher
on Monday, after Trump confirmed he would delay a planned hike in
tariffs on Chinese imports, as talks between the two sides made
"substantial progress".
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the postponement of the much-watched tariff was well-accepted by global investors.
“But we still have to keep a close watch; there is still uncertainty on the final decision,” Wong said.
Across Bursa Malaysia, 2.62 billion shares were traded for RM2.15 billion. Leading gainer Petronas Dagangan closed up RM1.60 at RM28.40.
Gamuda Bhd ended among top active stocks and leading decliners, on news the Malaysian Government has begun talks with Gamuda to negotiate the acquisition of four highway concessions that Gamuda has a majority stake in, with the aim of abolishing toll collection at these highways.
Gamuda fell 18 sen to RM2.86 today, with some 42 million shares traded.
Source: The Edge
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the postponement of the much-watched tariff was well-accepted by global investors.
“But we still have to keep a close watch; there is still uncertainty on the final decision,” Wong said.
Across Bursa Malaysia, 2.62 billion shares were traded for RM2.15 billion. Leading gainer Petronas Dagangan closed up RM1.60 at RM28.40.
Gamuda Bhd ended among top active stocks and leading decliners, on news the Malaysian Government has begun talks with Gamuda to negotiate the acquisition of four highway concessions that Gamuda has a majority stake in, with the aim of abolishing toll collection at these highways.
Gamuda fell 18 sen to RM2.86 today, with some 42 million shares traded.
Source: The Edge
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