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 (Sept 27): The FBM KLCI closed down 8.86 points or 0.56% today at 1,584.14 in an apparent response to FTSE Russell’s statement that Malaysia will be retained on its fixed-income watch list for potential downgrade and after China reported that August industrial profits fell 2% on-year.
The KLCI fell with Asian markets amid a risk-averse global environment compounded by news on a whistleblower complaint against US President Donald Trump.
Reuters reported that most Southeast Asian stock markets edged lower on Friday, with Philippines leading the fall, as a slew of political and trade-related concerns kept risk appetite in check.
“A whistle-blower report released on Thursday said Trump not only abused his office in an attempt to solicit Ukraine's interference in the 2020 US election for his benefit, but that the White House tried to 'lock down' evidence about the conduct.
“Developments on the trade war front were quite mixed, with the US
not budging to extend a temporary waiver that lets American companies
work with Huawei. On the other hand, Chinese officials played up
Beijing's willingness to buy more US products,” Reuters wrote.
In Malaysia today, Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that the market closed down in an absence of fresh catalysts and amid investors' risk-off mode.
“There is likely to be more clarity after the Budget (2020) announcement (on Oct 11)," Low said.
Across Bursa Malaysia today, volume stood at 1.88 billion shares worth RM1.33 billion. Top decliners included KLCI stocks Hong Leong Financial Group Bhd, Kuala Lumpur Kepong Bhd and Top Glove Corp Bhd.
Top Glove's share price closed down 15 sen or 3.18% at its intraday low of RM4.57 after the company said yesterday net profit fell to RM370.56 million in the financial year ended Aug 31, 2019 from RM424.36 million a year earlier.
Source: The Edge
In Malaysia today, Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that the market closed down in an absence of fresh catalysts and amid investors' risk-off mode.
“There is likely to be more clarity after the Budget (2020) announcement (on Oct 11)," Low said.
Across Bursa Malaysia today, volume stood at 1.88 billion shares worth RM1.33 billion. Top decliners included KLCI stocks Hong Leong Financial Group Bhd, Kuala Lumpur Kepong Bhd and Top Glove Corp Bhd.
Top Glove's share price closed down 15 sen or 3.18% at its intraday low of RM4.57 after the company said yesterday net profit fell to RM370.56 million in the financial year ended Aug 31, 2019 from RM424.36 million a year earlier.
Source: The Edge
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