KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (March 15): Supported by share price increases in Hartalega Holdings Bhd and Top Glove Corp Bhd, the FBM KLCI gained 6.02 points or 0.36% to close at 1,680.54 points today.
Shares of glove makers had recently been battered due to the depreciation of the ringgit against the US dollar. However, the ringgit appreciated to 4.088 against the dollar today, its first uptick since Tuesday.
The local market’s performance was in line with other Asian markets, buoyed by news of progress in US-China trade talks, according to Reuters.
However, according to Rakuten Trade head of research Kenny Yee, the increase in the benchmark index was likely due to domestic buying as foreign investors have reportedly continued to pull money out of the country.
Market breadth was positive across Bursa Malaysia, with 445 counters up versus 374 decliners. Total volume topped 4 billion shares, valued at RM3.67 billion.
Sapura Energy Bhd, Bumi Armada Bhd and Priceworth International Bhd were the most actively-traded stocks. Top gainers included Nestle (Malaysia) Bhd, Malaysian Pacific Industries Bhd and Hong Leong Bank Bhd.
In other Asian markets, Japan’s Nikkei closed up 0.77%, while the Shanghai Composite Index rose 1.04%. South Korea’s Kospi ended 0.95% higher.
Source: The Edge
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