KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (March 13): The FBM KLCI closed down 74.68 points or 5.26% at 1,344.75 today after broad-based selling across Bursa Malaysia, as concerns over the Covid-19 pandemic and Russia-Saudi Arabia crude oil price war led to a substantial drop in global markets.
Such sentiment hit world equity and crude oil markets as investors weighed the economic impact of the Covid-19 outbreak and as the crude oil price war led to concerns of additional supply of the commodity.
UOB senior economist Alvin Liew and rates strategist Victor Young wrote in a note today that global policymakers are expected to respond to the challenge amid uncertainties over both the magnitude and duration of the growth shock.
"Therefore, monetary policy settings will be highly accommodative for the rest of 2020 in order to stave off liquidity breakdowns during periods of elevated market stress as well as to provide a base for the eventual recovery,” Liew and Young said.
Source: The Edge
Comments
Post a Comment