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HomeBERITABursa Malaysia reverses yesterday's gains to close lower

Bursa Malaysia reverses yesterday’s gains to close lower

KUALA LUMPUR Jun 13 – Bursa Malaysia closed lower on Tuesday, easing 6.16 points to 1,380.61, despite positive regional market performance. The key index moved between 1,378.15 and 1,387.79, with negative market breadth and untraded counters.

The market breadth was negative as decliners led gainers 466 to 434, while 421 counters were unchanged, 923 untraded, and 12 others suspended.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI was lower today as investors took profit after yesterday’s firm rally.

He said the key regional indices were higher following a positive cue from global equities overnight with strong gains on tech stocks.

Japan’s Nikkei 225 added 1.80 per cent to 33,018.65, Hong Kong’s Hang Seng Index put on 0.60 per cent to 19,521.42, China’s Shenzhen Index rose 0.76 per cent to 10,955,96, while Singapore’s Straits Times Index slipped 0.16 per cent to 3,190.82.

“Investors are eagerly anticipating a temporary break in the US Federal Reserve’s (Fed) highly aggressive tightening campaign, leading the stock market to maintain its bullish momentum.

“Additionally, China’s central bank cuts a short-term policy interest rate, easing its monetary stance to help aid the world’s second-largest economy in its recovery,” he told press.–THE MALAYA POST

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