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 5): The FBM KLCI closed down 8.37 points or 0.5% today
following China's economic growth forecast revision announcement and as
investors continued selling Malaysian shares after analysts said
corporate earnings for 2018's fourth quarter (4Q18) were weak and
disappointing.
At 5pm, the KLCI closed at 1,685.62 after KLCI stocks Nestle (M) Bhd, Tenaga Nasional Bhd and Hartalega Holdings Bhd were among Bursa Malaysia's top decliners. The KLCI extended losses today after falling 6.77 points yesterday.
Globally today, Reuters reported that Asian shares took cue from China after the country lowered its economic growth target for this year to between 6% and 6.5%, as expected, from around 6.5% last year.
It was reported that China offered more stimulus, including cuts in taxes and social security fees, increases in infrastructure investment and lending to small firms.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI extended losses today on China economic growth forecast downgrade concerns.
Amid continued selling of Malaysian shares after disappointing set of corporate earnings for 4Q18, Leong told theedgemarkets.com over telephone that "we may see further weaknesses (in the KLCI) this week”.
Source: The Edge
At 5pm, the KLCI closed at 1,685.62 after KLCI stocks Nestle (M) Bhd, Tenaga Nasional Bhd and Hartalega Holdings Bhd were among Bursa Malaysia's top decliners. The KLCI extended losses today after falling 6.77 points yesterday.
Globally today, Reuters reported that Asian shares took cue from China after the country lowered its economic growth target for this year to between 6% and 6.5%, as expected, from around 6.5% last year.
It was reported that China offered more stimulus, including cuts in taxes and social security fees, increases in infrastructure investment and lending to small firms.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI extended losses today on China economic growth forecast downgrade concerns.
Amid continued selling of Malaysian shares after disappointing set of corporate earnings for 4Q18, Leong told theedgemarkets.com over telephone that "we may see further weaknesses (in the KLCI) this week”.
Source: The Edge
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