Slow start for Bursa while Asian markets advance on Wall St record


  • Markets
  • Monday, 20 Jan 2020

KUALA LUMPUR: Bursa Malaysia got off on a sluggish mode early Monday as investors as firmer key Asian markets and record gains on Wall Street failed to whet investor appetite for riskier assets.

At 9.03am, the FBM KLCI was down 1.19 points or 0.07% to 1,594.62. Turnover was 95.86 million shares valued at RM28.92mil. There were 141 gainers, 85 losers and 186 counters unchanged.

Asian shares were near a 20-month top as Wall Street extended its run of record peaks on solid US economic data and lashes of liquidity from the Federal Reserve, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.1%, after notching its highest close since June 2018. Japan's Nikkei added 0.2% to be near its highest in 15 months.

Australia's main index scored another all-time peak and South Korea was near its best level since October 2018. E-Mini futures for the S&P 500 edged up 0.1%.

At Bursa last week, foreign funds were net buyers at RM320.9mil and local retail investors at RM88mil but local institutions were net sellers at RM408.9mil.

Nestle fell 80 sen to RM144.80 but with 200 shares done only.

Genting Plantations lost 16 sen to RM10.44, Cepco 15 sen to 50 sen and Apex seven sen to 78 sen.

Axiata, which had seen strong interest last week, shed five sen to RM4.55.

Public Bank and RHB Bank lost four sen each to RM19.56 and RM5.80 but Hong Leong Bank added 16 sen to RM17.12 with 100 shares traded.

Globetronics lost three sen to RM2.41 but Vitrox gained four sen to RM9.11.

Other gainers were Master-Pack, KAB and UWC, all up five sen each to RM2.56, RM1.68 and RM3.60 respectively.
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