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 (Nov 19): The FBM KLCI closed 0.95 point or 0.06% higher today after erasing losses at the last minute on buying interest in index-linked stocks, as world markets took cue from the status of US-China trade talks.
At 5pm, the KLCI closed at its intraday high at 1,605.31, after falling to its intraday low at 1,595.15, as US-China trade uncertainties hit world markets.
Reuters reported Asian share markets were mixed in subdued trade on Tuesday, pending clearer news on whether US-China negotiations will reach a preliminary accord to end the prolonged trade war between the world's two largest economies.
Reuters said CNBC reported the mood in Beijing was pessimistic about prospects of sealing a trade agreement with the US.
In Malaysia, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com the KLCI had earlier today fallen due to a correction following yesterday's rise. “It’s very much still a retail play in the market. The institutions are still very cautious,” Soo said today.
Bursa Malaysia saw 2.68 billion shares, worth RM1.63 billion, traded across the exchange.
Top gainers included KLCI stocks Hong Leong Bank Bhd and Public Bank Bhd.
Hong Leong Bank's share price closed 20 sen or 1.19% higher at RM17.
Source: The Edge

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