KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
KUALA LUMPUR (April 30): The FBM KLCI closed 0.43% lower today in line with declines seen across regional markets amid the announcement of weak manufacturing data from China, as well as concerns over the country’s clampdown on technology companies.
The benchmark index opened higher before subsequently descending into negative territory within the first hour of trading, settling 6.8 points or 0.43% lower to close at 1,601.65.
Week-on-week, the index fell 0.42% from its closing of 1,608.43 last Friday.
Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd and Hartalega Holdings Bhd were among the index-linked decliners, dropping 3.5%, 2.5% and 1.2% respectively.Meanwhile, the gainers were led by Petronas Dagangan Bhd, which rose 38 sen or 1.9% to RM20.16.
Lotte Chemical Titan Holding Bhd was also among top gainers as its share price jumped 9.5% to a two-year high of RM3.23, as analysts upgraded their forecasts for the group amid rising optimism on strong earnings growth in the coming two quarters.
Across Bursa Malaysia, a total of 6.75 billion shares worth RM4.61 billion were traded. Market breadth was negative as 582 decliners outnumbered 508 gainers, while 453 counters were unchanged.
Regionally, markets were down. Japan’s Nikkei 225 fell 0.83%, South Korea’s Kospi fell 0.83% while China’s Shanghai Composite Index contracted 0.81%.
Reuters said the weaker-than-expected Chinese factory indicators and concerns about Beijing's clampdown on internet companies led equity markets in emerging Asia to close lower.
Data from the national Bureau of Statistics in China showed the official manufacturing purchasing managers' index fell to 51.1 in April from 51.9 in March, it said.
Source: The Edge
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