FTSE Bursa Malaysia KLCI (^KLSE) 1,646.53 14.83 (0.90%)
updated at: Wed, 09 Dec 2020, 05:25PM MYT

KLCI falls 0.41% as Middle East tensions gain momentum

Original Source From TheEdge Publish at Mon, 06 Jan 2020, 09:15AM

KUALA LUMPUR (Jan 6): The FBM KLCI fell 0.41% in early trade this morning, tracking volatile regional markets following the fresh gepolitical tensions in the Middle East.

At 9.05am, the FBM KLCI fell 6.72 points to 1,604.66.

The decliners included IHH Healthcare Bhd, Heineken Malaysia Bhd, Tenaga Nasional Bhd, Public Bank Bhd, DiGi.Com Bhd, Genting Bhd, Guan Chong Bhd, Master-Pack Group Bhd and IJM  Plantations Bhd.

Bloombergsaid financial markets are likely to face a volatile start to the week in Asia after geopolitical tensions flared in the Middle East, sending futures in the region lower. The yen advanced as investors favored haven assets.

As investors assess the fallout from the U.S. killing in an airstrike of Iran’s top military commander, Japanese futures dipped with traders returning after an extended holiday last week. They also slipped in Sydney and Hong Kong. The yen held near its strongest against the dollar in almost three months amid demand for haven assets, it said.

JF Apex Securities Research said US markets plunged on Friday on geopolitical concern after US' airstrikes killed Iran's top military leader.

It said that similarly, European stocks plummeted following geopolitical tension from the airstrikes.

“On the local market, the FBM KLCI rose 8.88 points to 1611.38 points.

“Following the bearish performances in the US and Europe, the FBM KLCI could retrace to its immediate support of 1600 points,” it said.

updated at: Fri, 29 May 2020 MYT
Participation (%)
Bought (MYR)
Sold (MYR)
Net
Foreign
( 24,36 % )
2.31 B 2.23 B 77.37 M
Local Institution
( 39,38 % )
3.66 B 3.67 B 0.00 B
Local Retail
( 36,26 % )
3.34 B 3.41 B -0.07 B