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 (July 16): The FBM KLCI closed down 3.43 points or 0.21% as investors appeared to favour Bursa Malaysia's lower liner and small market-capitalisation (small cap) stocks over large cap entities amid external uncertainties.
Analysts said these uncertainties include a potential US interest rate cut and the outlook of the US-China trade dispute. At Bursa, the KLCI closed at 1,668.94 at 5pm while the FBM70 index rose 41.84 points or 0.28% to 14,950.68.
Sector wise, the Energy Index climbed 17.44 points or 1.58% to 1,123.74 to become the largest percentage gainer across Bursa indices as investors grappled with external uncertainties.
"The outlook for the local market is still a bit uncertain. There are a few factors in the background that are affecting investor sentiment, including a potential cut in US interest rates and the US-China trade dispute," said an analyst with a local research house.
Globally, Reuters reported that although most Asian stock
markets rose on Tuesday, gains were, however, limited as investors
awaited US retail sales data and corporate earnings to gauge the health
of the world's biggest economy ahead of a likely US rate cut later this
month.
In Malaysia today, analysts said lower liner and small-cap stocks could be in demand as investors evaluated the impact of global uncertainties on the broader market.
Earlier today, TA Securities Holdings Bhd wrote in a note that "the recent strong trading momentum on lower liners and small caps should continue to highlight trading and cushion profit-taking".
Such sentiment on lower liner and small cap stocks helped volume across Bursa reach 3.32 billion shares worth RM2.09 billion. At a glance, energy-related stocks including KNM Group Bhd and Bumi Armada Bhd closed up among the most active counters across the exchange.
KNM and Bumi Armada registered a volume of some 175 million and 127 million shares respectively. KNM closed up 1.5 sen or 3.9% at 40 sen while Bumi Armada ended unchanged at 25 sen.
Source: The Edge
In Malaysia today, analysts said lower liner and small-cap stocks could be in demand as investors evaluated the impact of global uncertainties on the broader market.
Earlier today, TA Securities Holdings Bhd wrote in a note that "the recent strong trading momentum on lower liners and small caps should continue to highlight trading and cushion profit-taking".
Such sentiment on lower liner and small cap stocks helped volume across Bursa reach 3.32 billion shares worth RM2.09 billion. At a glance, energy-related stocks including KNM Group Bhd and Bumi Armada Bhd closed up among the most active counters across the exchange.
KNM and Bumi Armada registered a volume of some 175 million and 127 million shares respectively. KNM closed up 1.5 sen or 3.9% at 40 sen while Bumi Armada ended unchanged at 25 sen.
Source: The Edge
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