KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
KUALA LUMPUR (March 18): The FBM KLCI closed up 10.4 points or 0.62% today at its intraday high amid speculation of a dovish US interest rate stance ahead of the Federal Reserve Federal Open Market Committee meeting on Tuesday and Wednesday (March 19 and 20).
Today, the KLCI finished at 1,690.94. Across Bursa Malaysia, 3.26 billion shares worth RM1.92 billion were transacted. Bursa Malaysia's top gainer was Tenaga Nasional Bhd followed by Petronas Dagangan Bhd and Maxis Bhd.
The Malaysian stock market trend was in line with gains across Asian markets amid dovish US interest rate sentiment. Reuters reported that there is much talk that Fed policymakers will lower their interest rate forecasts, or "dot plots", to show little or no further tightening this year.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that "gains in the local stock market were mainly due to the regional bourses, which were largely positive".
Leong said investors took cue from external factors such as strong gains in US shares on Friday, optimism on China-US trade talks and expectation of dovish US interest rate stance.
In China today, the Shanghai Stock Exchange Composite closed up 2.47% while Hong Kong's Hang Seng was up 1.37%. Elsewhere across Asia, Japan's Nikkei 225 rose 0.62% while South Korea's Kospi was 0.16% higher
Source: The Edge

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