KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
KUALA LUMPUR (Sept 30): The FBM KLCI closed down 0.23 point or 0.01% today at 1,583.91, while Bursa Malaysia's ACE Market index fell by a significantly larger quantum, as speculation on the US' intention to delist Chinese firms from US stock exchanges led to escalating US-China trade war concerns.
At 5pm, the KLCI closed flat after falling to its intraday low at 1,578.53. The ACE Market index ended down 57.71 points or 1.27% at 4,495.12. Across Bursa Malaysia, 1.86 billion shares worth RM1.5 billion were traded.
Notable gainers included Maxis Bhd, Gamuda Bhd and Cahya Mata Sarawak Bhd, while decliners included PRG Holdings Bhd, Top Glove Corp Bhd and Petronas Gas Bhd.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that domestic trading sentiment was in line with Asian markets, which was weighed down by news saying China companies may be delisted from US stock exchanges.
“KLCI pared some losses at 4pm today, likely due to bargain-hunting activities, but it was not strong enough to reverse intraday losses," Leong said.
Globally, Reuters reported most Southeast Asian stock markets opened lower on Monday, as fears mounted of an escalation in Sino-U.S. trade tensions, after news Washington is considering de-listing Chinese companies from U.S. stock exchanges.
The U.S. administration is considering delisting Chinese companies to limit U.S. investment in Chinese companies, Reuters reported on Friday (Sept 27), quoting sources briefed on the matter.
Comments
Post a Comment