KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
KUALA LUMPUR (Jan 30): The FBM KLCI ended 4.88 points or 0.31% lower at 1,545.59, marking the benchmark index’s eighth daily loss, as sentiment across the region remained tepid on growing coronavirus fears.
The broader market was also generally in the red save for the consumer products, REIT and transportation & logistics indices.
The stock market saw a turnover of 2.81 billion shares for RM2.32 billion, with losers dominating.
Malacca Securities Sdn Bhd said the KLCI remains downbeat as investors continue to be cautious on the economic impact from the virus outbreak.
“Gains on Wall Street are also lacklustre as markets are still on the move to find stability,” the firm said in a note to clients today.
Dragging the KLCI down today were Petronas Chemicals Group Bhd (down 1.98% or 13 sen to RM6.45), Petronas Gas Bhd (down 1.84% or 30 sen to RM16) and Digi.com Bhd (down 1.81% or eight sen to RM4.33).
The World Health Organisation will decide later today whether the rapid spread of the virus now constitutes a global emergency, according to its website.
As at the time of writing the death toll from the virus stood at 170, with more than 7,800 confirmed cases.
In Malaysia, the Health Ministry today confirmed one more peson who had been infected with the coronavirus, bringing the total to eight, all of whom are Chinese nationals.
Asian shares were all in the red. Reuters said losses in Japanese shares accelerated after stocks in Taiwan plunged at the open in their first trading session since the Lunar New Year break.
“Taiwan shares ended down 5.75%, the biggest decline since October 2018, in what could be a preview of how Chinese shares will react when their financial markets re-open on Feb 3,” said the news agency.
Source: The Edge
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