FBM KLCI - lower in line with regional
Stocks on Bursa Malaysia closed lower across the board yesterday as the ringgit fell past the 4.000 level to the US dollar on continued foreign selling after China devalued its currency. This marks the weakest the ringgit has seen since 1998, making the current rate of RM4.0275 to the US dollar a 17-year low. China's move had routed Asian share markets and currencies. The FBM KLCI fell 26.78 points or 1.64% to 1,609.93 after hitting an intra-day low of 1,603.26. Losers led gainers by 973 to 96 with 165 counters unchanged. Total volume rose to 2.49 billion units valued at RM2.29 billion from Tuesday’s 1.99 billion units valued at RM2.07 billion.
Stocks on Bursa Malaysia closed lower yesterday on the back of the weakening ringgit and tracking the regional peers after China’s central bank devalued its yuan by 2%. Asian shares erased earlier gains following positive lead from Wall Street’s overnight rally as investors weighed China’s surprise move to allow its currency to fall against the US dollar to boost export. At close, the FBM KLCI fell 17.66 points or 1.07% to 1,636.71 after moving between 1,635.77 and 1,661.62 throughout the day. Losers led gainers by 529 to 290 with 346 counters unchanged. Total volume rose to 1.99 billion units valued at RM2.07 billion from Monday’s 1.91 billion units valued at RM1.99 billion.
Stocks on Bursa Malaysia closed lower across the board yesterday on persistent selling pressure, particularly in heavyweight counters, dragged the benchmark index to close sharply lower as investors pulled funds amid concern about the political scandal enveloping Prime Minister Najib Abdul Razak and the worsening economic outlook. External factors such as the Chinese economic slowdown, prospects of the Federal Reserve’s interest rate hike in September and bearish commodities prices also worsen the sentiments. The FBM KLCI fell 28.28 points or 1.68% to close at 1,654.37, after fluctuating between 1,649.12 and 1,672.57 throughout the day. Decliners overwhelmed advancers by 923 to 94 with 174 counters unchanged. Total volume rose to 1.91 billion units valued at RM1.99 billion from 1.86 billion units valued at RM1.79 billion on Friday.
Stocks on Bursa Malaysia ended lower last Friday on continued sell down by foreign funds as concerns over the weaker ringgit against the US dollar and declining oil prices continued to weigh down the benchmark index. Ay close, the FBM KLCI fell 11.99 points, or 0.7%, to 1,682.65 after fluctuating between 1,677.22 and 1,695.18 throughout the day. On a weekly basis, the benchmark index fell 40.49 points from previous Friday’s 1,723.14. Decliners outnumbered gainers by 722 to 187 with 257 counters unchanged. Total volume rose to 1.86 billion units valued at RM1.79 billion from 1.65 billion units valued at RM2.02 billion on Thursday. Weekly turnover declined to 7.38 billion units worth RM7.99 billion from last week’s 9.01 billion units worth RM9.36 billion.