KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
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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