Market Close KLCI tracks Asian share gains as investors anticipate US job data

by **Cals** Sat 04 Apr 2015, 01:47

Market Close
KLCI tracks Asian share gains as investors anticipate US job data

By Supriya Surendran / theedgemarkets.com | April 3, 2015 : 5:41 PM MYT

KUALA LUMPUR (Apr 3): The FBM KLCI tracked Asian share gains as investors waited for the US job data. The employment data will be a crucial indicator on the world largest economy's interest rate policy.

Malaysia's KLCI closed 2.55 points or 0.14% higher at 1,834.52 points at 5pm.

Across Asia, Japan’s Nikkei gained 0.63% while South Korea’s Kospi was up 0.81%. Hong Kong's Hang Seng was closed today in conjunction with the Good Friday and Easter holidays.

In Malaysia, technical analysts said investors were assessing the impact of the goods and services tax (GST) on the economy.

The GST was implemented beginning last Wednesday (Apr 1).

Today, a technical analyst told theedgemarkets.com: “The market has been trading sideways for the past few days. External factors will be the anticipated US jobs data report, but on the local front, investors are waiting for the numbers on the impact of the GST on the economy before making any investing decisions."

However, Malaysia's weaker-than-expected export figures might have curbed investors' sentiment today.

February exports decreased 9.7% to RM53.2 billion from a year earlier as commodity sales to major importing nations fell, the [size=14]Statistics Department said today.

February exports fell more than market forecast of a 1.9% on-year decline, based on a Reuters survey.

The ringgit weakened against world currencies. The ringgit depreciated to 3.6693 against the US dollar and compared to the Singapore dollar, the ringgit was weaker at 2.7044.

At Bursa Malaysia, 1.79 billion shares valued at RM1.28 billion traded. There were 383 gainers against 360 decliners while 345 counters remained unchanged.

Top gainers included Nestle (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Cahya Mata Sarawak Bhd ([You must be registered and logged in to see this image.] Financial Dashboard). Major decliners included British American Tobacco (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and The Store Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).

The most actively traded stock was Ingenuity Consolidated Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).

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