KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
KUALA LUMPUR (May 14): The FBM KLCI erased 11th-hour gains today to close 1.9 points or 0.12% lower as investors evaluated the impact of the China-US trade tension on world markets.
At 5pm, the KLCI closed at 1,599.19 after rising to its intraday high at 1,603.72 during the final trading hour.
Earlier today, the KLCI fell as much as 29.06 points or 1.82% to its intraday low at 1,572.03 shortly after the 9am opening bell. At the 5pm closing figure of 1,599.19, the KLCI had rebounded 27.16 points from its intraday low.
Hartalega Holdings Bhd and Top Glove Corp Bhd share gains led the KLCI's recovery, in percentage terms, among the 30 components stocks while Sime Darby Plantation Bhd was the top decliner. Sime Darby Plantation closed down 23 sen or 4.68% at RM4.68 while Hartalega rose 16 sen or 3.31% to RM4.99.
“Despite the KLCI recovering most of the intraday losses, the key index remained in the red for the fifth straight session in line with the negative performance across its regional peers," Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com.
At a glance, the KLCI recovered with Asian shares following more optimistic comments from China and the US on the trade war.
Reuters reported that world stocks hovered near two-month lows on Tuesday, although slightly more optimistic comments from US and Chinese officials on trade brought some comfort a day after equities suffered their worst selloff so far this year. It was reported that fears the US and China are spiraling into a fiercer, more protracted trade dispute that could derail the global economy, has rattled share markets in recent weeks, and the selloff accelerated on Monday after China announced plans for retaliatory tariffs.
But the Chinese Government's top diplomat said China and the US both have the "ability and wisdom" to reach a trade deal that is good for both. And US President Donald Trump said he was optimistic about resolving the trade dispute, according to Reuters.
Across Asian stock indices, Japan's Nikkei 225 cut losses to close down 0.59%, while South Korea's Kospi erased losses for a 0.14% rise. In China, Hong Kong's Hang Seng pared losses for a 1.5% drop.
Source: The Edge
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