KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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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