Market Close KLCI higher in volatile trade ahead of Bank Negara rate decision, ringgit weakens
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Market Close KLCI higher in volatile trade ahead of Bank Negara rate decision, ringgit weakens
Market Close
KLCI higher in volatile trade ahead of Bank Negara rate decision, ringgit weakens
By Gho Chee Yuan / theedgemarkets.com | March 4, 2015 : 5:39 PM MYT
KUALA LUMPUR (Mar 4): The FBM KLCI rose sharply at the 11th hour for a 4.29 point or 0.24% gain after volatile trade ahead of [size=14]Bank Negara Malaysia's monetary policy statement tomorrow.
The KLCI closed at 1,825.54 points, shored by rises in YTL Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), SapuraKencana Petroleum Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and PPB Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) shares.
The ringgit weakened against world currencies ahead of Bank Negara's decision regarding the overnight policy rate tomorrow.
At 4.54pm, ringgit was traded at 3.6460 per US dollar. Compared to the Singapore dollar, the ringgit was traded at 2.6707.
Across Bursa Malaysia, decliners outnumbered gainers 473 to 345, while 308 counters were unchanged. Some 2.12 billion shares worth RM2.16 billion changed hands.
Top gainers included Guinness Anchor Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Carlsberg Brewery (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and PPB Group Bhd.
Actively-traded counters included Nexgram Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Asio Bio Energy Technologies Bhd and Wintoni Group Resources Bhd.
Major decliners included British American Tobacco (M) 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).
Speaking to theedgemarkets.com, a remisier said the market had been quite flattish for the past few days in the absence of catalysts.
"Oil prices are still hovering around US$60 per barrel and the ringgit continues to weaken against US dollar", the remisier said.
The remisier said these factors had further dampened investor sentiment here.
Regional markets fell.Japan's Nikkei 225 closed 0.59% lower while South Korea's Kospi also was down 0.15%
Hong Kong's Hang Seng fell 0.96%.
Reuters reported that Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.
Investors remained cautious ahead of U.S. non-farm payrolls report for February, which could provide clues about the timing of the U.S. Federal Reserve's interest rate hike, the report added.
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KLCI higher in volatile trade ahead of Bank Negara rate decision, ringgit weakens
By Gho Chee Yuan / theedgemarkets.com | March 4, 2015 : 5:39 PM MYT
KUALA LUMPUR (Mar 4): The FBM KLCI rose sharply at the 11th hour for a 4.29 point or 0.24% gain after volatile trade ahead of [size=14]Bank Negara Malaysia's monetary policy statement tomorrow.
The KLCI closed at 1,825.54 points, shored by rises in YTL Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), SapuraKencana Petroleum Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and PPB Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) shares.
The ringgit weakened against world currencies ahead of Bank Negara's decision regarding the overnight policy rate tomorrow.
At 4.54pm, ringgit was traded at 3.6460 per US dollar. Compared to the Singapore dollar, the ringgit was traded at 2.6707.
Across Bursa Malaysia, decliners outnumbered gainers 473 to 345, while 308 counters were unchanged. Some 2.12 billion shares worth RM2.16 billion changed hands.
Top gainers included Guinness Anchor Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Carlsberg Brewery (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and PPB Group Bhd.
Actively-traded counters included Nexgram Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Asio Bio Energy Technologies Bhd and Wintoni Group Resources Bhd.
Major decliners included British American Tobacco (M) 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).
Speaking to theedgemarkets.com, a remisier said the market had been quite flattish for the past few days in the absence of catalysts.
"Oil prices are still hovering around US$60 per barrel and the ringgit continues to weaken against US dollar", the remisier said.
The remisier said these factors had further dampened investor sentiment here.
Regional markets fell.Japan's Nikkei 225 closed 0.59% lower while South Korea's Kospi also was down 0.15%
Hong Kong's Hang Seng fell 0.96%.
Reuters reported that Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.
Investors remained cautious ahead of U.S. non-farm payrolls report for February, which could provide clues about the timing of the U.S. Federal Reserve's interest rate hike, the report added.
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