KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR (May 28): The FBM KLCI closed 5.77 points or 0.4% higher today tracking overnight gains on Wall Street on the back of optimism about the reopening of the US economy.
The benchmark index closed at 1,457.5, after moving between 1,449.25 and 1,458.73.
Apart from the Wall Street gains, the KLCI’s rise was also due to the index playing catch up after the Aidilfitri holiday break on Monday and Tuesday, Rakuten Trade Research head Kenny Yee Shen Pin told theedgemarkets.com.
He, however, warned that the uptrend is unlikely to sustain as the market is lacking a catalyst to provide the support for further gain.
Among KLCI component stocks, Genting Malaysia Bhd led the gainers with a 3.14% or seven sen rise to RM2.30, followed by Dialog Group Bhd (up 2.97% or 11 sen to RM3.81), and CIMB Group Holdings Bhd (up 2.63% or nine sen to RM3.51).
Total turnover on Bursa Malaysia was 6.94 billion shares, worth RM5.45 billion. Losers led gainers by 546 to 366, while 451 counters remained unchanged.
Elsewhere in Asia, Japan's Nikkei 225 grew 2.32%, while South Korea's Kospi fell 0.13% and Hong Kong’s Hang Seng was down 0.72%.
Reuters reported that Asian shares erased gains and the yuan languished today on growing worries China’s planned security law for Hong Kong would spark a broader diplomatic confrontation with the US.
Source: The Edge
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