Bursa Malaysia stocks news post

Kuala Lumpur: Bursa Malaysia share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.56 points to 1,706.93. The trading volume was 41.38 million lots worth RM16.66 million. There were 67 gainers, 162 losers and 156 counters unchanged.

The Friday drop on Blue chips was not as acute as the previous two days, as the selling was seen as overdone. However, Hong Leong Bank and Public Bank weighed down the FBM KLCI.

Stock To Watch

The KLSE loser stock data shows Hong Leong Bank fell 40 sen to RM19.90 and Public Bank 16 sen to RM24.74 while Bursa lost 12 sen to RM7.52. MPI fell 44 sen to RM11.06, Vitrox 25 sen to RM7.65. Other decliners were Hap Seng, down 21 sen to RM9.36, Scientex 19 sen to RM8.41. Gamuda extended its rebound, up four sen to RM2.34. 

Among the klse stock gainer list, United Plantations was the top gainer, up 30 sen to RM26.88 with 100 shares done. Genting Plantations rose 18 sen to RM9.54, KL Kepong 12 sen to RM24.80 and Sime Plantation added seven sen to RM5.31.

Ibraco added 12.5 sen to 59 sen, Tenaga 10 sen to RM14.38 and Digi six sen higher at RM4.45 while Revenue Group gained five sen to RM1.11.

Global Market

After nine-day losing streak The Asian shares holding steady and appeared indefinite on Friday, but the sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2% after the opening of South Korea and Australian markets, a day after it fell 3.6% to hit 1-and-a-1/2 year low. Japan’s Nikkei fell 0.6%.

Currency Market

The RINGGIT opened marginally higher against the US dollar at Friday’s opening, the local currency stood at 4.1520/1560 against 4.1580/1600 recorded at yesterday’s closing. 

The ringgit was traded mostly lower against all other major currencies. It fell against the Singapore dollar from 3.0124/0143  to 3.0203/0234 yesterday, slipped versus the euro from 4.8054/8094 to 4.8155/8205 and depreciated against the British pound to 5.4964/5034 from 5.4873/4916. The local note traded higher against the Japanese yen at 3.7019/7061 from 3.7052/7080.

Commodity Market

Crude oil prices were supported by the ringgit on Friday. Brent crude rose to US$80.48 per barrel after a market retreat with falls in equity markets and indications that supply concerns have been overblown.

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