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 (May 21): The FBM KLCI erased gains in the second half of trading today as trade tensions between the US and China weighed on investor sentiment.
The key market barometer closed at 1,603.74, down 1.62 points or 0.1%.
"(In the broader market,) the technology sector suffered the worst decline, with the Bursa Malaysia Technology Index falling 3.5%," said Malacca Securities Sdn Bhd senior analyst Kenneth Leong.
Leong advised investors to keep an eye out for corporate earnings being released towards the end of the month, although the research house does not expect a significant change in market from the earnings releases.
Market breadth was negative as 558 stocks closed in the red, more than two times the number of gainers, at 203.
Trading activity was muted as the day was sandwiched between two public holidays. Some 1.8 billion shares valued at RM1.46 billion changed hands.
Bursa was closed yesterday for the Wesak Day holiday and will be on a break tomorrow for Nuzul al-Quran.
Lambo Group Bhd, Barakah Offshore Petroleum Bhd and Bumi Armada Bhd were the most actively traded stocks today.
Across Asia, most markets regained some ground after being sold down on Monday due to US President Donald Trump's trade restrictions on China's Huawei stoking fears over the trade war between both countries, Reuters reported.
The Shanghai Composite Index climbed 1.23% while South Korea's Kospi gained 0.27%, supported by heavyweight smartphone maker Samsung Electronics, a key Huawei rival.
However, Japan's Nikkei closed in the red as it lost 0.14%.
Source: The Edge
Trading activity was muted as the day was sandwiched between two public holidays. Some 1.8 billion shares valued at RM1.46 billion changed hands.
Bursa was closed yesterday for the Wesak Day holiday and will be on a break tomorrow for Nuzul al-Quran.
Lambo Group Bhd, Barakah Offshore Petroleum Bhd and Bumi Armada Bhd were the most actively traded stocks today.
Across Asia, most markets regained some ground after being sold down on Monday due to US President Donald Trump's trade restrictions on China's Huawei stoking fears over the trade war between both countries, Reuters reported.
The Shanghai Composite Index climbed 1.23% while South Korea's Kospi gained 0.27%, supported by heavyweight smartphone maker Samsung Electronics, a key Huawei rival.
However, Japan's Nikkei closed in the red as it lost 0.14%.
Source: The Edge
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