KUALA LUMPUR, Aug 16 — Bursa Malaysia pared most of its earlier losses at the close of trading today amid the ongoing political developments, with key index remaining above the psychological 1,500-point level. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.21 points to end the day at...
KUALA LUMPUR, Aug 16 — Bursa Malaysia pared most of its earlier losses at the close of trading today amid the ongoing political developments, with key index remaining above the psychological 1,500-point level.
Market breadth remained negative with losers trouncing gainers 633 to 377, while 422 counters were unchanged, 779 untraded, and 19 others suspended. “We see the market climbing above 1,500, partly because there are some orderly transition and there is some potential resolution to the current uncertainties. We noticed that the market did not fall as people think it would because of the uncertainties. We might see bargain hunting activities,” he told Bernama.
Among the actives, Avillion rose two sen to 21 sen, Advance Synergy edged up half-a-sen to 17.5 sen, both KNM and Malayan United Industries were one sen higher at 22 sen and 9.5 sen, while Fintec Global was flat at 2.5 sen and Dagang NeXchange declined three sen to 75.5 sen. “Domestically, the resignation of Malaysia’s Prime Minister Tan Sri Muhyiddin Yassin now brings to another question on who will be the next premier. Until such matter is made known, investors will likely remain on the sidelines amid the uncertainty,” he told Bernama.
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