Market Close KLCI tracks Asian share losses; ringgit weakens vs USD

by **Cals** Mon 20 Jul 2015, 18:04

KUALA LUMPUR (July 20): The FBM KLCI lost 2.6 points or 0.15% today, as Asian shares fell amid speculation on the timing of US interest rate hikes.
At 5pm, the KLCI closed at 1,724.13. Across Asia, Hong Kong's Hang Seng fell 0.04%, while South Korea’s Kospi was down 0.17%.
Japanese markets were closed for a holiday today.
Reuters reported most Southeast Asian stock markets fell on Monday, as investors pared equity holdings in anticipation of a U.S. interest rate hike this year, while the Thai benchmark dropped to a more than one-week low, led by energy and bank shares.
Anticipation of higher US interest rates had led to a stronger US dollar, as investors focused on US dollar-denominated assets.
Compared to the stronger US dollar, the ringgit weakened to 3.8095 at the time of writing.
In Malaysia, fund managers said today was a generally quiet day of trading, amid the Hari Raya Aidilfitri celebrations.
The local share market resumed trading today, following a half-day break last Thursday (July 16) and full-day holiday on Friday (July 17).
Today, Areca Capital Sdn Bhd's chief executive officer Danny Wong told theedgemarkets.com that "it was generally a quiet day for trading, with the fall in some component stocks affecting the index."
These included MISC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Genting Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Hong Leong Financial Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Overall, Bursa Malaysia saw 1.52 billion shares, valued at RM1.55 billion, traded. There were 452 gainers and 319 decliners.

Top gainers included United Plantations Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Latitude Tree Holdings Bhd. Major decliners included British American Tobacco (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Cocoaland Holdings Bhd ([You must be registered and logged in to see this image.]Financial Dashboard).
The most-actively traded stock of the day was AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).