Klse Stock News- Bursa Malaysia Stocks Open Lower on Friday, Axiata & Public Bank Weigh Market in Early Trade

Bursa Malaysia stocks market news 05-10-2018

Kuala Lumpur: Bursa Malaysia stock prices opened lower on Friday with the FTSE Bursa Composite Index down 3.78 points to 1,794.86 at 9.05am. The trading volume was 99.04 million lots worth RM33.21 million. There were 107 gainers versus 71 decliners and 161 counters unchanged.

Bursa Malaysia slipped in early trade despite a positive Wall Street performance overnight as equities were floated on strong economic data.

 

Stock Watch

The top KLSE active stock including Orion rising 0.5 sen to nine sen, AWC adding 1.5 sen to 92 sen and Hiap Teck, losing 0.5 sen to 40.5 sen.

The top KLSE gainer stocks are some heavyweights that paced higher were PPB adding 10 sen to RM16.88 and Maybank rising 10 sen to RM9.64.

The top KLSE loser stocks are, Axiata that slid five sen to RM4.68 as it grew less likely to accept an offer for its stake in M1. Public Bank lost 10 sen to RM24.90 while Sime Darby shed four sen to RM2.60.

 

Global Market

At Asia’s open, Japan’s Nikkei rose a strong 1.1%, within reach of 2018 high achieved in January. Nasdaq index opens up today with 8,042.0 and previous close at 51.6 and HANG SENG index open with 0.35% to reach 27,813.58.

 

Currency Market

The RINGGIT opens lower against the US dollar early Friday. At 9 am (0100 GMT), the local currency stood at 4.1430/1460 against 4.1380/1420 recorded at 6 pm Thursday.

The RINGGIT traded higher up against other major currencies on from the previous day

-It rose against the Singapore dollar to 3.0283/0316 from 3.0315/0349 on Thursday and strengthened with the Yen to 3.6505/6542 from 3.6697/6743.

-The local currency also upgrades against the Euro to 4.8229/8276 from yesterday’s 4.8427/8495 and appreciated the British pound to 5.4182/4230 from 5.4315/4380.

 

Commodity Market

The oil prices continued to push higher on expectations of hard supply when US sanctions on Iran come into play. US crude was seven sen higher at US$72.19 a barrel while Brent crude was flat to US$81.72 per barrel.