KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (April 29): The FBM KLCI closed down 0.98 point or 0.06% today after retail buying across Bursa Malaysia appeared to be dampened by the two-day securities settlement cycle (T+2 settlement cycle) debut on the local bourse. The T+2 settlement cycle replaces the T+3 scheme.
At 5pm, the KLCI closed at 1,637.4 after falling to its intraday low at 1,631.83. On Friday (April 26), Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said in a statement that “the launch of T+2 settlement cycle will bring Bursa Malaysia in line with regional and major exchanges around the world".
The statement said Friday was the last trading day for the T+3 settlement cycle.
Today, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said it was “uncharacteristic” of the KLCI to decline amid increases in most Asian markets. Pong pointed to the implementation of the T+2 scheme as a possible factor behind the KLCI's fall.
“The KLCI dipped, indicating a bit of apprehension, despite other markets doing relatively okay. This may have something to do with T+2 coming into play today, which may have dampened buying activity among the retail investors,” he told theedgemarkets.com.
Across Bursa Malaysia, 2.53 billion shares worth RM1.64 billion were traded. There were 546 decliners and 241 gainers.
Leading decliners included British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd and Lotte Chemical Titan Holding Bhd.
Malaysian shares fell despite increases in Asian markets. Reuters reported that Asian shares climbed on Monday, with markets in Europe poised to track their gains, after strong US first-quarter economic growth and data showing profits at Chinese industrial firms grew for the first time in four months.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent, rebounding from its biggest weekly drop in more than a month last week. It was reported that Japan's financial markets are closed for a long national holiday this week, but Nikkei 225 futures in Singapore was 0.9 percent higher.
Source: The Edge
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