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 (Feb 10): The FBM KLCI closed 0.75% lower today amid renewed fears on the Wuhan coronavirus outbreak, as death toll climbed.
The benchmark index snapped its four days of consecutive gains, as it retreated 11.69 points to 1542.80, dragged by Hong Leong Financial Group Bhd, Sime Darby Bhd and Genting Malaysia Bhd.
Rakuten Trade vice president of research Vincent Lau, when contacted, maintained that “the focus remains on the coronavirus outbreak”, where the death toll has surpassed that of the severe acute respiratory syndrome (SARS) outbreak in 2003 over the weekend.
At press time, the virus has infected over 40,000 individuals in 28 countries, with 910 officially dead.
Meanwhile, foreign investors are reported to have continued to sell Malaysian equities. Foreign investors disposed of RM327.4 million net of local equities last week, the third weekly foreign net outflow so far in 2020.
Acoss Bursa Malaysia, some 2.42 billion shares valued at RM1.92 billion exchanged hands. Decliners led gainers by 597 to 285.
The Shanghai SSE Composite Index rose 0.51% as mainland China loosened travel restrictions, as its population returned to work. The Shenzen SZSE Component Index, too, rose 1.1%.
Elsewhere, markets were mixed as sentiment remained jittery due to the virus outbreak. Hong Kong’s Hang Seng Index slid 0.59%, South Korea’s KOSPI retreated 0.49%, whereas Japan’s Nikkei 225 fell 0.6%.
Source: The Edge
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