KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (Nov 18): The FBM KLCI closed up 9.61 points or 0.6% today at its intraday high after a spike in the final trading minutes, led by sharp gains in prices of stocks including IHH Healthcare Bhd and Digi.Com Bhd and as fund managers appeared to window dress their portfolios.
Globally, Malaysian shares rose with Asian equities, after China's central bank reduced rates on seven-day reverse repurchase agreements (repo) by five basis points to 2.5%.
At Bursa Malaysia, the KLCI closed at its intraday high of 1,604.36 at 5pm, after erasing losses from its intraday low at 1,592.47.
IHH’s share price closed 21 sen or 3.93% higher at RM5.56 to become the leading-percentage gainer among the 30 KLCI components, followed by Digi.Com. Digi.Com closed up 15 sen or 3.28% at RM4.73.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com today that the KLCI was lifted mainly by IHH, after the company said it remains committed to proceed with the Fortis Healthcare Ltd open offer, once the stay is lifted by the Supreme Court of India.
Leong noted that the KLCI's gain today was also in line with positive sentiment among Asian stock indices.
“There are signs of early window dressing, as we approach towards the year-end,” Leong said.
Bursa Malaysia saw 2.34 billion shares worth RM1.42 billion traded across the exchange, as world markets took cue from China's repo rate cut.
Reuters reported Asian shares ticked higher on Monday, after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation further stimulus is on the way for the world's second-largest economy.
It was reported China's central bank cut rates on the seven-day reverse repo by five basis points to 2.5%, a move that nudged the yuan higher, while lowering bond yields.
Source: The Edge
Comments
Post a Comment