KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR (Oct 11): The FBM KLCI closed 4.97 points or 0.32% higher today while small market capitalisation (small cap) stocks rose by a larger quantum amid revived optimism on US-China trade talks and as investors evaluated Malaysia's Budget 2020 announcement.
At 5pm the KLCI closed at 1,556.84 after broad-based buying across Bursa Malaysia. The small-cap index rose 138.38 points or 1.05% to 13,311.92.
"Local market sentiment should recover further today on hopes for some concessions from US-China trade talks, and optimism for goodies and stimulus for selective sectors from Budget 2020 this afternoon," TA Securities Holdings Bhd wrote in a note today.
Across Bursa, 2.29 billion shares were traded for RM1.6 billion. Leading gainers included KLCI stocks MISC Bhd and Tenaga Nasional Bhd.
MISC closed 24 sen or 2.99% higher at RM8.28 while Tenaga ended up 22 sen or 1.61% at RM13.88.
Globally, Reuters reported that Southeast Asian stock markets opened higher on Friday, with Indonesia leading the gains, as revived optimism over the ongoing Sino-US trade talks boosted investor sentiment.
It was reported that market sentiment turned positive after a first day of trade talks between top US and Chinese negotiators that Trump characterised as "very, very good".
"All commentaries coming from the first day of talks seemed to be helping the markets in the region, given this is something everyone was waiting for," Joel Ng, an analyst with KGI Securities was quoted as saying.
Source: The Edge
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