KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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