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 (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

Comments
Post a Comment