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 15): The FBM KLCI reversed earlier gains to end 0.01% lower, along with key Asian markets on Friday, amid foreign selling of local equities.
At 5pm, the benchmark index closed at 1,688.83, down 0.23 points from Thursday's close of 1,689.06. Earlier in the day, the FBM KLCI hit an intraday high of 1,693.85 after opening 3.23 points higher at 1,692.29.
Across Asia, Japan's Nikkei 225 fell 1.13% and South Korea's Kospi lost 1.34%, while Hong Kong's Hang Seng dropped 1.87% and China's Shanghai Stock Exchange Composite declined 1.37%.
CNBC reported that major Asian stock markets closed lower on Friday, following the release of US retail data overnight, which raised concerns over a slowing American economy. Investors await developments from the ongoing US-China trade negotiations in Beijing.
Back to the local equity market, TA Securities technical analyst Steven Soo told theedgemarkets.com that the KLCI had been trading sideways today, as foreign selling pressure weighs on Malaysian blue chips.
He expects the benchmark index to continue to be range bound in the near term, pending positive catalysts that could push the KLCI through the 1,705-point resistance level.
Across Bursa Malaysia, market breadth was negative with 457 losers against 326 gainers, while 430 counters traded unchanged. A total of 3.06 billion shares were traded today, valued at RM1.99 billion.
Among the gainers are consumer-related stocks like Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd. As for losing counters, Nestle (Malaysia) Bhd, IHH Healthcare Bhd and QL Resources Bhd were among the top on the list.
The most-active stocks included oil and gas-related companies Sapura Energy Bhd, Bumi Armada Bhd and Hibiscus Petroleum Bhd.
Source: The Edge
He expects the benchmark index to continue to be range bound in the near term, pending positive catalysts that could push the KLCI through the 1,705-point resistance level.
Across Bursa Malaysia, market breadth was negative with 457 losers against 326 gainers, while 430 counters traded unchanged. A total of 3.06 billion shares were traded today, valued at RM1.99 billion.
Among the gainers are consumer-related stocks like Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd. As for losing counters, Nestle (Malaysia) Bhd, IHH Healthcare Bhd and QL Resources Bhd were among the top on the list.
The most-active stocks included oil and gas-related companies Sapura Energy Bhd, Bumi Armada Bhd and Hibiscus Petroleum Bhd.
Source: The Edge
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