KUALA LUMPUR, Jan 7 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) recovered from yesterday’s losses to close higher Tuesday, driven by bargain-hunting amidst the positive momentum on Wall Street overnight and most regional markets. At 5 pm, the market bellwether increased 4.32 points or 0.26 per cent to 1,629.79 compared with Monday’s close of 1,625.47. The index opened 0.97 of-a-point lower at 1,624.50 and moved between 1,624.50 and 1,634.27 throughout the day. However, the broader market was negative with losers outpacing gainers 614 to 490, while 537 counters were unchanged, 712 untraded and 10 others suspended. Turnover improved to 3.91 billion units valued at RM3.29 billion against Monday’s 3.47 billion units valued at RM2.66 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said optimism in the...
KUALA LUMPUR (Oct 28): Bursa Malaysia’s key index staged a pullback on Friday (Oct 28) for the second day running, after having breached the 1,450 level on Wednesday, as profit-taking set in across the broader market.
Lacklustre trading on the local bourse also mirrored the weak regional market performance, as investors digested interest rates announcements by the European Central Bank (ECB) and Bank of Japan (BOJ) for clues ahead of the US Federal Open Market Committee and Bank Negara Malaysia (BNM) meetings next week.
At 5pm, the FBM KLCI had slipped 6.78 points to 1,447.31, compared with Thursday's close at 1,454.09.
The key index opened 0.45 of a point higher at 1,454.54, and moved between 1,442.04 and 1,456.47 throughout the day.
The broader market was bearish, with losers outpacing gainers 450 to 393, while 409 counters were unchanged, 1,117 untraded, and 83 others suspended.
Turnover decreased to 2.38 billion units valued at RM1.65 billion, versus 2.53 billion units valued at RM1.87 billion on Thursday.
BOJ governor Haruhiko Kuroda on Friday kept the country’s policy rates unchanged, citing weaker growth prospects after the ECB raised its rates by 75 basis points (bps) on Thursday.
An analyst told Bernama that BNM, meanwhile, is widely expected to increase the cost of borrowing by another 25 bps.
"The market is closely tracking the US Federal Reserve’s next move, with a 75 bps [hike] likely,’’ he said, adding that the Bank of England is also set to announce its stance on interest rates next week.
Back home, heavyweights Malayan Banking Bhd (Maybank), Dialog Group Bhd and PPB Group Bhd dipped 10 sen each. Maybank closed at RM8.58, followed by Dialog at RM1.91 and PPB at RM16.56.
Kuala Lumpur Kepong Bhd (KLK) lost 38 sen to RM21.82, Public Bank Bhd fell five sen to RM4.38, and Sime Darby Plantation Bhd was nine sen lower at RM4.35.
Among the actives, Borneo Oil Bhd was unchanged at two sen and Bintai Kinden Corp Bhd was flat at 9.5 sen, Top Glove Corp Bhd added 1.5 sen to 79 sen, MyEG Services Bhd rose by two sen to 88.5 sen, and Tanco-WC was half a sen higher at 19 sen.
On the index board, the FBM Emas Index declined 38.17 points to 10,275.40, the FBM 70 decreased 14.59 points to 12,236.57, and the FBMT 100 Index dropped 38.74 points to 10,014.85.
The FBM Emas Shariah Index shed 24.22 points to 10,322.51, while the FBM ACE recovered 18.11 points to 4,881.30.
Sector-wise, the Financial Services Index gave up 93.87 points to 16,386.04, the Energy Index was 4.10 points weaker at 697.57, and the Plantation Index lost 76 points to 6,843.05, while the Industrial Products and Services Index improved 0.08 of a point to 175.45.
The Main Market volume rose to 1.6 billion shares worth RM1.42 billion, from 1.57 billion shares worth RM1.51 billion on Thursday.
Warrant turnover expanded to 320.41 million units worth RM58.28 million, from 252.22 million units worth RM47.07 million a day ago.
The ACE Market volume declined to 458.25 million shares worth RM172.45 million, from 722.08 million shares worth RM317.14 million previously.
Consumer product and service counters accounted for 179.62 million shares traded on the Main Market, followed by industrial products and services (607.49 million), construction (51.57 million), technology (141.08 million), special purpose acquisition companies (nil), financial services (68.08 million), property (154.15 million), plantation (17.93 million), real estate investment trusts (6.9 million), closed/funds (5,100), energy (132.35 million), healthcare (175.54 million), telecommunications and media (21.40 million), transportation and logistics (34.1 million), and utilities (10.59 million).
Source: The Edge
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