KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (Aug 29): The FBM KLCI closed up 5.36 points or 0.34% today on bargain hunting and as foreign selling of Malaysian stocks appeared to have tapered off amid more optimistic corporate financial announcements during the current reporting season.
At 5pm, the KLCI closed up at 1,595.18, led by top percentage gainer IOI Corp Bhd, to snap three consecutive days of losses. Today, the KLCI finished higher after falling to its intraday low at 1,584.83 as world recession concerns amid intensifying US-China trade war and the spectre of a no-deal Brexit affected sentiment.
In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that the unbroken spell of foreign selling appears to have tapered off after more optimistic corporate earnings were released.
Among the 30 KLCI stocks, IOI Corp was the leading percentage gainer after the stock closed up 14 sen or 3.32% at RM4.36 followed by Hap Seng Consolidated Bhd. Hap Seng Consolidated added 29 sen or 3.02% to RM9.90.
Globally, Reuters reported that global bond yields flirted with record lows while stocks inched down on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. It was reported that bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 percent and minus 0.716 percent on Wednesday.
In the UK, the most serious political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's Parliament for more than a month before Brexit, Reuters reported.
It was reported that the move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his Government, and possibly an election.
Source: The Edge
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