KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Jan 8): The FBM KLCI dropped 21.94 points or 1.36% today along with global equities after Iran fired missiles at US military bases in Iraq in retaliation to the US air strike, which killed top Iranian commander Qassem Soleimani on Friday.
At 5pm today, the KLCI closed down at 1,589.1 after broad-based selling across Bursa Malaysia, where volume ended higher at 3.86 billion shares. The small-cap index finished down 310.01 points or 2.18% at 13,882.4.
"The local market was impacted by the strike from Iran [against the US]. That's the main reason for the market-wide sell down today," Rakuten Trade Sdn Bhd head of research Kenny Yee told theedgemarkets.com.
Across Bursa today, 3.86 billion shares worth RM2.23 billion were traded. Yesterday 2.99 billion shares worth RM1.8 billion were transacted.
Today, 161 counters gained against 795 decliners across Bursa. Top decliners included Nestlé (M) Bhd, PPB Group Bhd and Hong Leong Financial Group Bhd.
Top gainers included jewellers Poh Kong Holdings Bhd and Tomei Consolidated Bhd amid higher gold prices at above US$1,600 per ounce.
Globally, Reuters reported that Asian shares tumbled on Wednesday, while oil, safe-haven Treasury prices and gold shot higher after Iran fired rockets at US-led forces in Iraq, stoking fears of a wider conflict in the Middle East.
It was reported that Iran's missile attacks on the Ain Al-Asad air base and another in Erbil, Iraq, early in the day came hours after the funeral of the Iranian commander whose killing in a US drone strike has intensified tensions in the region.
It was reported that overnight on Tuesday, shares on Wall Street had pulled back amid worries over US-Iran tensions. The Dow Jones Industrial Average fell 0.42%, the S&P 500 lost 0.28% and the Nasdaq Composite dropped 0.03%, according to Reuters.
Source: The Edge
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