KUALA LUMPUR (Sept 20): The FBM KLCI rose 4.07 points or 0.2% as investors anticipated the outcome of the Bank of Japan (BOJ) and the US Federal Reserve's two-day meetings, which end tomorrow.
The BOJ and Federal Reserve's monetary policies will be closely watched as their decisions could move world markets. In Malaysia today, the KLCI closed at 1,655.78 points.
JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com over telephone that the KLCI was lacking catalysts, partly due to US interest rate uncertainty.
"There may be more interest in the local market if the Fed maintains the rate this month, but it might seem that the market had already priced that in. The consensus seems to think there would be a hike only later," Lee said.
Reuters quoted Mizuho Securities senior technical analyst Yutaka Miura as saying "the market is more nervous about the BOJ than the Fed as it may give the market a surprise".
Bursa Malaysia saw 1.39 billion shares valued at RM1.7 billion changed hands. Decliners beat gainers at 418 and 344 respectively.
British American Tobacco (M) Bhd was the day's biggest gainer.
Inversely, the biggest decliner was Panasonic Manufacturing Malaysia Bhd.
The most-actively traded stocks included DRB-Hicom Bhd and AirAsia Bhd.