KUALA LUMPUR, April 16 — Bursa Malaysia reversed earlier gains to end the day easier, in tandem with regional stock markets, dragged down by late profit-taking in selected index-linked counters. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 1.26 points weaker at 1,386.53 against...
File picture shows an investor monitoring stock prices in the gallery of the RHB Investment Bank Bhd headquarters, July 16, 2018. — Bernama pic
The barometer index, which started the day lower recovered after two hours into trading. However, profit- taking emerged 10 minutes before trading ended. AxiCorp global chief market strategist Stephen Innes said sentiment on Bursa was influenced by the recovery in the crude oil price as well as the stabalising China economy over the short term.
Innes reiterated the key resistance for the benchmark index at the 1,400 level, but the ultimate pivot is 1,450, suggesting risk green lights are turning back on.Maybank eased six sen to RM7.58, Petronas Chemicals slipped two sen to RM5.40, while both Tenaga and IHH Healthcare were flat at RM12.24 and RM5.23 respectively.
Sector-wise, the Financial Services Index expanded 27.97 points to 12,445.67, the Industrial Products and Services Index added 0.44 of-a-point to 115.81, but the Plantation Index fell 7.16 points to 6,279.47.
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