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 (Feb 19): The FBM KLCI slid 0.19% on Wednesday, weighed down by glove counters following a declining trend in new cases of Covid-19 infections.
The benchmark index erased early gains to close 2.92 points lower at 1,534.16, dragged by profit-taking in Top Glove Corp Bhd and Hartalega Holdings Bhd.
Trading interest was concentrated on mid- and small-caps, with 2.54 billion shares valued at RM1.95 billion changing hands.
PublicInvest Research analyst Lee Siao Ping said the market trailed yesterday’s movement, when small-cap stocks fell by a larger quantum after broad-based selling.
Lee observed that investors are also cautious “as they await the fourth quarter and full-year financial results later this month”.
Across Bursa Malaysia, decliners marginally led gainers, while 400 counters traded unchanged.
Gainers were led by consumer stocks Carlsberg Brewery (M) Bhd, Dutch Lady Milk Industries Bhd and Fraser & Neave Holdings Bhd. Decliners were led by Panasonic Manufacturing (M) Bhd, Top Glove Corp Bhd and Nestle (M) Bhd.
As China’s virus-hit industrial cities are starting to loosen travel curbs and resume production, its National Health Commission reported the lowest daily rise in new infections since Jan 29, or 1,749 new confirmed cases, Reuters reported.
At press time, the number of global confirmed cases stood at 75,205 with 14,733 cured, while the official death toll stood at 2,012.
Across Asia, markets were generally mixed, as investors digested the lower-than-expected decline in Japan’s trade data and Singapore’s expansionary budget to tackle the virus outbreak.
Japan’s Nikkei 225 rose 0.89%, Singapore’s STI climbed 0.53%, and Hong Kong’s HSI rose 0.46% while China’s Shanghai SSE Index slid 0.32%.
Source: The Edge
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