KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
KUALA LUMPUR (Feb 19): The FBM KLCI today closed 13.82 points or 0.82% higher on what appeared to foreign investor demand for Malaysian stocks.
At 5pm, the KLCI closed at 1,706.56 after rising to its intraday high of 1,710.14. The KLCI closed today above the 1,700-point level for the first time in about three weeks since Jan 25 when the index ended at 1,701.03.
Today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com the uptrend in the KLCI was likely due to foreign buying.
“I suppose that this is actually some kind of evidence that the foreign (fund) inflow is continuing and they are buying in now," said Wong.
Petronas Chemicals Group Bhd topped gainers among the 30 KLCI component stocks followed by Top Glove Corp Bhd.
Petronas Chemicals closed 33 sen or 3.85% higher at RM8.90 while Top Glove rose 15 sen or 3.01% to RM5.14.
Across Asia, Reuters reported that Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-US trade talks, while the yen slipped as the Japanese central bank said it won't rule out further policy easing.
It was reported that trade talks dominated headlines with a new round of negotiations between the United States and China expected in Washington on Tuesday, and follow-up sessions at a higher level later in the week. Reports of progress in the talks have rekindled hopes among investors that the two countries can reach a compromise in their trade war by a March 1 deadline, although few details from the talks have emerged.
Source: The Edge
Petronas Chemicals closed 33 sen or 3.85% higher at RM8.90 while Top Glove rose 15 sen or 3.01% to RM5.14.
Across Asia, Reuters reported that Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-US trade talks, while the yen slipped as the Japanese central bank said it won't rule out further policy easing.
It was reported that trade talks dominated headlines with a new round of negotiations between the United States and China expected in Washington on Tuesday, and follow-up sessions at a higher level later in the week. Reports of progress in the talks have rekindled hopes among investors that the two countries can reach a compromise in their trade war by a March 1 deadline, although few details from the talks have emerged.
Source: The Edge
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