KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36. The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session. The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
KUALA LUMPUR (May 24): After a volatile trading session, the FBM KLCI sank into negative territory at the eleventh hour, ending the day down 3.55 points or 0.22% at 1,598.32.
The key index closed lower for the third straight session, dragged by selected heavyweights such as Nestle (Malaysia) Bhd, Sime Darby Plantation Bhd and Petronas Dagangan Bhd, said Malacca Securities Sdn Bhd senior analyst Kenneth Leong.
He told theedgemarkets.com that oil and gas stocks such as Petronas Dagangan and Dialog Group Bhd had been affected by the weakness in the price of Brent crude oil, which has fallen below the US$70 per barrel psychological mark. Brent crude was trading at US$68.59 at the time of writing.
On the broader market, a total of 408 stocks closed in the red today versus 328 stocks that recorded gains. Some 1.89 billion shares changed hands for a total of RM1.55 billion.
The most actively traded stocks were Vortex Consolidated Bhd, Lambo Group Bhd and Impiana Hotels Bhd.
Across Asia, markets ended the week mixed as investors were torn between fears of heightened US-China trade tensions and hope that the world's two largest economies would reach a settlement soon, Reuters reported.
Japan's Nikkei closed down 0.16% and South Korea's Kospi declined 0.69%. Meanwhile, China's CSI300 rebounded slightly by 0.28%.
Source: The Edge
Across Asia, markets ended the week mixed as investors were torn between fears of heightened US-China trade tensions and hope that the world's two largest economies would reach a settlement soon, Reuters reported.
Japan's Nikkei closed down 0.16% and South Korea's Kospi declined 0.69%. Meanwhile, China's CSI300 rebounded slightly by 0.28%.
Source: The Edge
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