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Wednesday, June 8, 2016

The FBM KLCI index lost 2.77 points or 0.17% on Wednesday.

The FBM KLCI index lost 2.77 points or 0.17% on Wednesday. 

The Finance Index fell 0.33% to 14330.23 points, the Properties Index dropped 0.06% to 1157.41 points and the Plantation Index down 0.48% to 7604.82 points. 

The market traded within a range of 8.92 points between an intra-day high of 1662.17 and a low of 1653.25 during the session.

Top gainers were led by Nestle (M) Bhd today, while the biggest loser was British American Tobacco (M) Bhd.

M3 Technologies (Asia) Bhd, which received an unusual market activity (UMA) query from the local exchange, was the most actively-traded counter, with 94.58 million shares done.

The KLCI extended its midday losses and closed lower at 1657.85 points amid overnight mixed performance in Wall Street. Investors were taking profit following the gains in our local bourse in the past few days.

Reuters reported Southeast Asian stocks were trading cautiously on Wednesday, in line with Asian markets, with Indonesia snapping three consecutive days of gains on profit-taking, while the Philippine index and Vietnam extended gains from the previous session.

Asian peers were flat as weak Chinese export data offset a brightening energy sector outlook, alongside an expected delay in interest rate hikes by the US Federal Reserve.

China had announced its May exports fell by a more-than-expected, i.e. 4.1% from a year earlier.

Today, Japan’s Nikkei rose 0.93%, along with South Korea’s Kospi, which increased 0.77%. Hong Kong’s Hang Seng Index, however, settled 0.14% lower.

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