Market Close KLCI falls on Asian share, US futures decline

by **Cals** Sat 18 Apr 2015, 01:14

Market Close
KLCI falls on Asian share, US futures decline

KUALA LUMPUR (Apr 17): The FBM KLCI erased earlier gains in volatile trade, tracking weaker Asian share markets and decline in US stock futures.
The KLCI fell 2.08 points or 0.11% to close at 1,845.86 points on losses in stocks like IOI Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Genting Bhd ([You must be registered and logged in to see this image.] Financial Dashboard). Both stocks settled among Bursa Malaysia's top decliners.
Jupiter Securities Sdn Bhd chief market strategist Benny Lee said the KLCI was down amid a lack of domestic catalysts.
“Regional indices had pulled back today, while the local market is still cautious as investors wait for further catalysts.
“Currently, there is no catalyst yet, but I’ve noticed that some oil and gas stocks have gained a bit, as oil prices are starting to climb,” Lee said.
Asian share markets fell. Japan’s Nikkei fell 1.17% while Hong Kong’s Hang Seng declined 0.31%.
In the US, Bloomberg reported that Dow Jones Industrial Average futures fell 31 points, or 0.2%, to 18,010 today.
Reuters reported that an index of Asian shares edged away from fresh seven-year highs on Friday but was still on track to score weekly gains, while the dollar languished after lacklustre US economic data made a near-term interest rate hike appear less likely.
Such sentiment had helped the ringgit strengthen to 3.6240 versus the US dollar.
Bursa Malaysia saw some 2.58 billion shares worth RM2.28 billion traded. Gainers beat decliners at 493 against 334, while 357 counters were unchanged.
Pharmaniaga Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) led gainers while the top active stock was Bioalpha Holdings Bhd.