Market Close KLCI falls with Asian shares after US earnings disappoint

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KLCI falls with Asian shares after US earnings disappoint

By Kamarul Anwar / theedgemarkets.com   | April 22, 2016 : 5:56 PM MYT  

KUALA LUMPUR (April 22): The FBM KLCI fell 3.51 points or 0.2% with Asian markets following overnight US equity losses.

At 5pm, the KLCI closed at 1,717.96 points after being traded between 1,715.18 and 1,720.08 today. Stocks that pulled down the KLCI included YTL Corp Bhd and Tenaga Nasional Bhd.

Across Asian share markets, Hong Kong's Hang Seng fell 0.72% while South Korea's Kospi lost 0.33%. Japan's Nikkei 225, however, rose 1.2%.

Reuters reported that Asian shares slid from a 5½-month high on Friday on disappointing earnings from US blue chip companies, but Japanese shares surged after a media report about a possible Bank of Japan policy change weakened the yen.

In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that investors were mostly eyeing the current corporate earnings reporting season for the January-to-March quarter.

The reporting season has begun in April although most Bursa Malaysia-listed firms report their quarterly financials in May.

"All eyes will be on banking earnings," Pong said.

Across Bursa Malaysia today, 1.64 billion shares valued at RM1.65 billion were traded. There were 396 decliners versus 378 gainers.

Sona Petroleum Bhd warrant SONA-WA was the most-actively traded entity. Top gainer was British American Tobacco (M) Bhd while Hong Leong Financial Group Bhd was the biggest decliner.

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