KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (Sept 24): The FBM KLCI pared losses today to close 0.6 point or 0.04% down at 1,592.33 after investors bargain hunted for index-linked stocks including banking entities, which had earlier dropped in anticipation Bank Negara Malaysia (BNM) may further cut the overnight policy rate (OPR) this November, after the 25 basis point (bp) cut to 3% in May this year.
At a glance today, these banking stocks included Malayan Banking Bhd (Maybank) and Public Bank Bhd. At 5pm, the KLCI pared losses after falling to its intraday low at 1,585.58.
MIDF Amanah Investment Bank Bhd head of research Mohd Redza Abdul Rahman told theedgmarkets.com that "banking stocks, mainly Maybank and Public Bank, were affected by a report today that suggested that BNM may cut the OPR in November."
Today, Maybank's share price closed down seven sen or 0.8% at RM8.65 while Public Bank was down four sen or 0.2% at its intraday low at RM20.10.
Maybank pared losses after falling to its intraday low at RM8.62.
BNM's website showed that there will be one more Monetary Policy Committee (MPC) meeting this year on Nov 5.
At the latest MPC meeting on Sept 12 this year, BNM said the MPC decided to maintain the OPR at 3%.
On May 7 this year, BNM said the MPC decided to reduce the OPR to 3%. During the previous meeting on March 5 this year, BNM said then that the MPC decided to maintain the OPR at 3.25%.
Source: The Edge
BNM's website showed that there will be one more Monetary Policy Committee (MPC) meeting this year on Nov 5.
At the latest MPC meeting on Sept 12 this year, BNM said the MPC decided to maintain the OPR at 3%.
On May 7 this year, BNM said the MPC decided to reduce the OPR to 3%. During the previous meeting on March 5 this year, BNM said then that the MPC decided to maintain the OPR at 3.25%.
Source: The Edge
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