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Market Close KLCI gains as weaker US dollar spurs demand for Asian shares
by Cals Thu 02 Apr 2015, 21:15
Market Close
KLCI gains as weaker US dollar spurs demand for Asian shares
By Supriya Surendran / theedgemarkets.com | April 2, 2015 : 5:45 PM MYT
KUALA LUMPUR (Apr 2): The FBM KLCI rose as a weaker US dollar spurred demand for Asian shares.
The KLCI closed 5.66 points or 0.31% higher at 1,831.97 points at 5pm. The KLCI rose on gains in stocks like[size=14]Genting Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Petronas Dagangan Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Maybank Investment Bank regional chartist Lee Cheng Hooi said the KLCI's trend appeared strong ahead of the long weekend in conjunction with Good Friday and Easter Sunday holidays.
“There is also a firmer tone for crude oil prices, which lifted the ringgit against the US dollar, and this is probably the reason to buy funds on the exchange,” Lee told theedgemarkets.com.
The ringgit strengthened 3.6690 against the US dollar and compared to the Singapore dollar, the ringgit was firmer at 2.7008.
Reuters reported that the U.S. dollar lost ground on Thursday, the last trading day of the week for many markets ahead of Easter, after disappointing economic data on Wednesday raised doubts over the growth outlook ahead of key jobs data due Friday.
Thursday's pullback in the U.S. dollar index, which is still up some 8% year-to-date, gave a boost to emerging-market stocks — trading at a one-month high — as main emerging currencies strengthened against the dollar.
Asian share markets gained. Hong Kong’s Hang Seng was up 0.77%, South Korea’s Kospi rose 0.03% while Japan's Nikkei 225 climbed 1.46%.
In Malaysia, Bursa Malaysia saw 2.17 billion shares valued at RM2.04 billion traded.
There were 466 gainers against 326 decliners, while 322 counters remained unchanged.
Top gainers included British American Tobacco(M) Bhd and United Plantations Bhd ([You must be registered and logged in to see this image.] Financial Dashboard). Major decliners included Tahps Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Advanced Packaging Technology (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
The most actively traded stock today was Ingenuity Consolidated Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
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KLCI gains as weaker US dollar spurs demand for Asian shares
By Supriya Surendran / theedgemarkets.com | April 2, 2015 : 5:45 PM MYT
KUALA LUMPUR (Apr 2): The FBM KLCI rose as a weaker US dollar spurred demand for Asian shares.
The KLCI closed 5.66 points or 0.31% higher at 1,831.97 points at 5pm. The KLCI rose on gains in stocks like[size=14]Genting Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Petronas Dagangan Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Maybank Investment Bank regional chartist Lee Cheng Hooi said the KLCI's trend appeared strong ahead of the long weekend in conjunction with Good Friday and Easter Sunday holidays.
“There is also a firmer tone for crude oil prices, which lifted the ringgit against the US dollar, and this is probably the reason to buy funds on the exchange,” Lee told theedgemarkets.com.
The ringgit strengthened 3.6690 against the US dollar and compared to the Singapore dollar, the ringgit was firmer at 2.7008.
Reuters reported that the U.S. dollar lost ground on Thursday, the last trading day of the week for many markets ahead of Easter, after disappointing economic data on Wednesday raised doubts over the growth outlook ahead of key jobs data due Friday.
Thursday's pullback in the U.S. dollar index, which is still up some 8% year-to-date, gave a boost to emerging-market stocks — trading at a one-month high — as main emerging currencies strengthened against the dollar.
Asian share markets gained. Hong Kong’s Hang Seng was up 0.77%, South Korea’s Kospi rose 0.03% while Japan's Nikkei 225 climbed 1.46%.
In Malaysia, Bursa Malaysia saw 2.17 billion shares valued at RM2.04 billion traded.
There were 466 gainers against 326 decliners, while 322 counters remained unchanged.
Top gainers included British American Tobacco(M) Bhd and United Plantations Bhd ([You must be registered and logged in to see this image.] Financial Dashboard). Major decliners included Tahps Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Advanced Packaging Technology (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
The most actively traded stock today was Ingenuity Consolidated Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
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