KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (Oct 2): The FBM KLCI fell 14.54 points or 0.91% today to close at its intraday low at 1,574.9 after the broader market reacted to weaker US manufacturing data, which underscored the impact of the US-China trade war on the US economy.
Reuters reported that global equity selling was triggered after the Institute for Supply Management’s (ISM) index of factory activity, one of the most closely-watched data on US manufacturing, dropped 1.3 points to 47.8, the lowest level since June 2009.
It was reported that a reading below 50 indicates contraction in the manufacturing sector.
"Markets had been expecting the index to rise back above 50. Global shares fell to one-month lows on Wednesday after US manufacturing activity tumbled to more than a decade low, sparking worries that the fallout from the US-China trade war is spreading to the US economy," Reuters said.
In Malaysia today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said "the slump in manufacturing activity would trigger the question of whether the (economic) slowdown is faster than expected".
Across Bursa Malaysia, a total of 1.85 billion shares were traded for RM1.44 billion.
Selling was broad-based across Bursa indices except for the REIT, utilities and technology gauges. Major decliners included the plantation and energy indices, which closed down 1.5% and 1.05% respectively.
Bursa top stock decliners included KLCI counters Public Bank Bhd and Kuala Lumpur Kepong Bhd.
The most-active stocks included Bumi Armada Bhd, which registered a volume at some 61 million shares. Bumi Armada's share price closed down one sen or 3.13% at 31 sen.
Source: The Edge
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