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 (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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