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 (Dec 19): The FBM KLCI drifted lower today on profit taking, amid fears of a more uncertain outlook following the impeachment of US President Donald Trump.
At the 5pm closing bell, the KLCI was down 0.21% or 3.39 points at 1,595.72. Rakuten Trade Sdn Bhd vice president of equity research Vincent Lau told theedgemarkets.com that the profit taking came after the strong surge in the benchmark index on Wednesday, which saw it climbed 1.41% or 22.16 points higher to close at 1,599.11.
He also attributed the sluggish performance seen in the KLCI today to the impeachment of Trump, which has cast more uncertainties on outlook. Nevertheless, he said the KLCI should still end the year at no less than 1,600, after factoring in the usual year-end window dressing initiatives.
Trading volume declined to 2.11 billion shares worth RM1.7 billion from yesterday's 2.5 billion shares worth RM2.03 billion. Market breadth was negative with 538 decliners compared with 262 gainers, while 425 counters traded unchanged.
The top decliners included IHH Healthcare Bhd, Fraser & Neave
Holdings Bhd, Lebtech Bhd, Inari Amertron Bhd and Petronas Gas Bhd.
Inari also topped the actives list, together with Priceworth
International Bhd, KNM Group Bhd, Ekovest Bhd and Yong Tai Bhd.
The gainers, meanwhile, included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, PPB Group Bhd, Carlsberg Brewery Malaysia Bhd and Heineken Malaysia Bhd.
Elsewhere in Asia, Japan's Nikkei 225 fell 0.29% and Hong Kong's Hang Seng was down 0.30%. While South Korea's Kospi edged up 0.08%.
Reuters reported that Asian shares pulled back from a one-and-a-half year peak on Thursday as investors booked profits ahead of the holidays and awaited further data on the state of the global economy.
Investors were also watching proceedings in Washington where the Democrat-led US House of Representatives voted to impeach Republican's Trump for abuse of power and obstruction of Congress.
Source: The Edge
The gainers, meanwhile, included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, PPB Group Bhd, Carlsberg Brewery Malaysia Bhd and Heineken Malaysia Bhd.
Elsewhere in Asia, Japan's Nikkei 225 fell 0.29% and Hong Kong's Hang Seng was down 0.30%. While South Korea's Kospi edged up 0.08%.
Reuters reported that Asian shares pulled back from a one-and-a-half year peak on Thursday as investors booked profits ahead of the holidays and awaited further data on the state of the global economy.
Investors were also watching proceedings in Washington where the Democrat-led US House of Representatives voted to impeach Republican's Trump for abuse of power and obstruction of Congress.
Source: The Edge
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