Bursa starts Q4 on cautious note, Asian market advance


  • Markets
  • Tuesday, 01 Oct 2019

Foreign funds were net sellers on Monday at RM72.3mil but this was offset by net buying by local institutions and retail investors.

KUALA LUMPUR: Bursa Malaysia started the fourth quarter on Tuesday on a cautious note as foreign funds were still on a selling mode while key Asian markets advanced.

At 9.25am, the FBM KLCI was up 1.28 points or 0.08% to 1,585.19. Turnover was 194.55 million shares valued at RM59.46mil. There were 154 gainers, 116 losers and 213 counters unchanged.

Foreign funds were net sellers on Monday at RM72.3mil but this was offset by net buying by local institutions and retail investors.

Global share prices ticked up as some investors clung to hopes that China and the United States could work towards reaching a deal on trade and other issues in the fourth quarter, Reuters reported.

Japan's Nikkei rose 0.6% while MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.11%. US stock futures rose 0.16% in Asia, a day after the S&P 500 gained 0.50%.

Chinese markets will be shut for a week from Tuesday to mark 70 years since the founding of the People's Republic of China.

At Bursa, KL Kepong rebound 24 sen to RM23.32 after the recent selling while Maybank added eight sen to RM8.59 and MISC edged up five sen to RM7.85.

However, Public Bank, Tenaga and Telekom fell four sen each to RM20.04, RM13.60 and RM3.56 respectively.

Prolexus jumped 18.5 sen to 82.5 sen while its warrants added 4.5 sen to 19 sen.

Jaycorp gained 5.5 sen to RM1.02 and CCB five sen to RM1.40, Tien Wah and Westports added five sen each to RM1.23 and RM4.17.

Among the consumer stocks, Nestle fell 50 sen to RM145.20 and BAT lost six sen to RM18.88.

UEM Edgenta lost 15 sen to RM3.37, GHL Systems five sen to RM1.42 and Allianz four sen to RM13.80.


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