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 (Nov 4): The FBM KLCI closed up 10.22 points or 0.64% today, after world share markets rose amid US-China trade talks optimism and as investors evaluated news that the US' October job growth slowed less than expected.
At Bursa Malaysia, the KLCI closed at its intraday high at 1,603.56 at 5pm today, led by top percentage gainers Hartalega Holdings Bhd and Top Glove Corp Bhd.
Malacca Securities Sdn Bhd head of research Victor Wan said the positive sentiment across US shares traded at Wall Street on Friday, spilled over to Asian equities today.
“It (KLCI) has a good run up already over the past few sessions. It has gone overboard. The 1,600 level seems to be new resistance for KLCI,” Wan told theedgemarkets.com today.
Across Bursa today, 2.56 billion shares worth RM1.86 billion were
traded. Among KLCI's 30 components, Hartalega closed 17 sen or 3.17%
higher at RM5.54 to be the index's top percentage gainer, followed by
Top Glove.
Top Glove shares were up 12 sen or 2.73% at RM4.52.
In currency markets, the ringgit strengthened to 4.1505 against the US dollar at the time of writing today, ahead of Bank Negara Malaysia's (BNM) interest rate decision tomorrow (Nov 5).
BNM's monetary policy committee (MPC) will hold their final 2019 meeting tomorrow. At the latest meeting on Sept 12, the MPC decided to maintain the overnight policy rate at 3%.
Today, world share markets took cue from US-China trade talks and the US' jobs data. Reuters reported Asian shares surged on Monday with a broad regional gauge hitting more than 14-week highs, as growing optimism over US-China trade talks and upbeat US job data boosted global investors’ appetite for riskier assets.
It was reported that the US and China both said on Friday that they had made progress in talks aimed at defusing their protracted trade war, and US officials said a deal could be signed this month.
"US job growth slowed less than expected in October and hiring in the prior two months was stronger than previously estimated, data from the Labor Department showed on Friday," Reuters reported.
Source: The Edge
Top Glove shares were up 12 sen or 2.73% at RM4.52.
In currency markets, the ringgit strengthened to 4.1505 against the US dollar at the time of writing today, ahead of Bank Negara Malaysia's (BNM) interest rate decision tomorrow (Nov 5).
BNM's monetary policy committee (MPC) will hold their final 2019 meeting tomorrow. At the latest meeting on Sept 12, the MPC decided to maintain the overnight policy rate at 3%.
Today, world share markets took cue from US-China trade talks and the US' jobs data. Reuters reported Asian shares surged on Monday with a broad regional gauge hitting more than 14-week highs, as growing optimism over US-China trade talks and upbeat US job data boosted global investors’ appetite for riskier assets.
It was reported that the US and China both said on Friday that they had made progress in talks aimed at defusing their protracted trade war, and US officials said a deal could be signed this month.
"US job growth slowed less than expected in October and hiring in the prior two months was stronger than previously estimated, data from the Labor Department showed on Friday," Reuters reported.
Source: The Edge
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