KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481. A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 billion on Friday.
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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