KUALA LUMPUR, April 22 (Bernama) -- Bursa Malaysia snapped a four-day winning streak to close marginally lower today, as profit-taking followed mixed performances across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.94 points, or 0.29 per cent, to 1,710.39 from Tuesday’s close of 1,715.33. The benchmark index opened 2.67 points higher at 1,718.00, and moved between 1,705.11 and 1,720.46 during the day. In the broader market, losers led gainers 584 to 565, while 596 counters were unchanged, 1,014 untraded and 35 suspended. Turnover declined to 3.19 billion units valued at RM2.69 billion from 3.45 billion units valued at RM3.18 billion on Tuesday.
KUALA LUMPUR (Jan 29): The FBM KLCI ended 1.17 points or 0.08% lower at 1,550.47 as regional markets rebounded slightly after a steep selloff, though concerns on the economic impact of the Wuhan virus continued to weigh on investors.
While the benchmark index closed in negative territory, the broader market saw a recovery except for glove makers and healthcare stocks which took a breather after yesterday’s rally.
Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com trading was quite mixed as investors reacted to recent announcements related to the virus.
“The slight dip in the KLCI is probably due to some bargain hunting as investors took opportunity on lower prices. Investors continued to take caution but I believe the impact to the stock market will not be as severe as we think. Even the Dow Jones has recovered overnight (up 0.66% to 28,722.85),” Lau said.
The death toll from the virus outbreak rose sharply to 132 with nearly 1,500 new cases, and countries continued to impose travel curbs and pull out nationals from Wuhan, as fears over the virus grew, Reuters wrote.
The Malaysian Government said it will bring back 78 Malaysians who are currently stranded in Wuhan and Hubei province.
There were more gainers than losers on Bursa Malaysia. The gainers included Malaysia Airports Holdings Bhd (up 4.87% or 31 sen to RM6.68), Axiata Group Bhd (ending 2.38% or 10 sen higher at RM4.30) and Genting Malaysia Bhd (1.32% or four sen higher at RM3.08).
In other Asian markets, Japan’s Nikkei 225 index recovered, rising by 0.71%, while South Korea’s Kospi rose 0.39%.
The Hang Seng index dipped 2.82% to a seven-week low on its first trading day after the lunar new year holidays as investors reacted to the ongoing virus development.
Source: The Edge
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