KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Asian equities and gold bounced back on Tuesday , as markets steadied after last week’s violent swings triggered by shifts in US monetary expectations and forced unwinding of leveraged trades. Why Markets Are Calmer Asian stocks rallied sharply , led by Japan and South Korea Gold and silver rebounded after deep, leverage-driven selloffs US factory activity surprised to the upside , supporting risk sentiment Investors are refocusing on earnings and central bank decisions Asia Market Moves Japan’s Nikkei 225: +2.5% , recouping prior losses South Korea’s Kospi: +4.0% Hong Kong futures: Pointing higher S&P 500 futures: +0.3% Australian shares rose 1.3% , while the Australian dollar held firm near US$0.6958 , after logging its biggest monthly gain in three years in January. Gold and Silver Bounce Gold: +3% to ~US$4,800/oz , nearly 9% off Monday’s lows Silver: +5% to...