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 (July 27): The FBM KLCI closed 1.87 points or 0.12% higher today, thanks to a rush for glovemakers in the final minutes of trading, after declining on the back of losses in banking counters.
The benchmark index dipped to a low of 1,588.98 amid profit-taking in Top Glove Corp Bhd, but the late buying in that stock and other glovemakers lifted the index to 1591.48 at the close.
Public Bank led the banking stocks' decline, while Malayan Banking Bhd shares also slipped.
This follows news that the banking sector is estimated to see losses of RM6.4 billion during the loan moratorium period, and that the government and Bank Negara Malaysia are in talks with banks on whether the six-month moratorium will be extended beyond September.
“Looking ahead the focus now will be on 2Q results, which many
already see to be weaker,” Areca Capital Sdn Bhd chief executive officer
Danny Wong told theedgemarkets.com when contacted. “Investors are now
gauging whether the results will further miss expectations.”
The wider Bursa Malaysia remained a trading market with 11.61 billion shares, valued at RM6.24 billion exchanging hands. A total of 582 counters posted gains as opposed to 505 decliners, while 378 counters traded unchanged.
Topping the gainers’ list was glovemaker Kossan Rubber Industries Bhd, followed by plantation group Kuala Lumpur Kepong Bhd, Bursa Malaysia Bhd and Hartalega Holdings Bhd.
Decliners were led by Nestle (M) Bhd, Ajinomoto M Bhd, Petronas Dagangan Bhd and Allianz M Bhd.
Elsewhere in Asia, the markets were mixed. Japan’s Nikkei 225 slipped 0.16%, South Korea’s Kospi climbed 0.79% while Hong Kong’s HSI eased 0.41%.
Overall, analysts said markets were jittery due to concerns over US-China relations, which in turn raised concerns over global economic outlook and pushed the US dollar lower and precious metal gold to rocket beyond its previous high in 2011-2012.
Reuters reported Washington ordered China’s consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.
At the time of writing, the US dollar opened lower against the ringgit, trading down 0.26% at 4.2505/4.2625.
Spot gold rose 2.05% to US$1940.30 per ounce, after touching US$1945.30 earlier — its highest ever. Silver followed, rising 5.88% to US$24.04 per ounce.
Source: The Edge
The wider Bursa Malaysia remained a trading market with 11.61 billion shares, valued at RM6.24 billion exchanging hands. A total of 582 counters posted gains as opposed to 505 decliners, while 378 counters traded unchanged.
Topping the gainers’ list was glovemaker Kossan Rubber Industries Bhd, followed by plantation group Kuala Lumpur Kepong Bhd, Bursa Malaysia Bhd and Hartalega Holdings Bhd.
Decliners were led by Nestle (M) Bhd, Ajinomoto M Bhd, Petronas Dagangan Bhd and Allianz M Bhd.
Elsewhere in Asia, the markets were mixed. Japan’s Nikkei 225 slipped 0.16%, South Korea’s Kospi climbed 0.79% while Hong Kong’s HSI eased 0.41%.
Overall, analysts said markets were jittery due to concerns over US-China relations, which in turn raised concerns over global economic outlook and pushed the US dollar lower and precious metal gold to rocket beyond its previous high in 2011-2012.
Reuters reported Washington ordered China’s consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.
At the time of writing, the US dollar opened lower against the ringgit, trading down 0.26% at 4.2505/4.2625.
Spot gold rose 2.05% to US$1940.30 per ounce, after touching US$1945.30 earlier — its highest ever. Silver followed, rising 5.88% to US$24.04 per ounce.
Source: The Edge
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