KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Dec 31): The FBM KLCI lost its footing on the last trading day of 2019. The benchmark index shed 26.91 points or 1.67% to end the year at its intraday low at 1,588.76, after US shares' overnight decline hit Asian market sentiment.
For the year, the KLCI had declined 6.02% or 101.82 points, making it the third-largest percentage decliner among benchmark indices in Asia, after the Laos Securities Exchange Composite and Mongolia Stock Exchange Top 20.
Asia's worst decliner Laos Securities Exchange Composite fell 12.95%, followed by the Mongolia Stock Exchange Top 20's 8.59% drop.
Over the last 10 years, the KLCI had however gained 315.98 points or 24.83% from 1,272.78 on Dec 31, 2009.
In Malaysia today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said weakness in the KLCI today was due to US shares' overnight decline, which affected sentiment across Asian stock markets today.
Reuters reported Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the US and China reached a preliminary trade deal earlier this month.
Today, Wong told theedgemarkets.com: "KLCI was down 6.02% year-to-date, mainly due to the foreign selling amid global and domestic uncertainties."
Across Bursa Malaysia, there were 552 decliners versus 314 gainers. Turnover stood at 2.25 billion shares, worth RM1.75 billion.
Top decliners included KLCI stocks Public Bank Bhd, PPB Group Bhd and Tenaga Nasional Bhd.
Source: The Edge
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