Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
While many people have been talking about 2010 being the year towards economy recovery. However, things does not always look too good despite of all these speculations. However, South East Asia stocks does not seem to feeling the positive push. And it could be that the whole world is feeling it as well. Singapore and most South East Asia countries have been on the fall for the sixth day, while Malaysia bank hits.
Singapore's index fell for a sixth session on Wednesday, weighed down by selling in Genting and other big caps, while Malaysia hit its lowest in almost a month, with banks suffering the most.
Most likely, the fall and impact especially towards the bank was due to worries among the public regarding the recent banking proposals in the United States by the Obama administration. There are tough and strict rules being proposed to limit the size and the scope of activities of the country's biggest banks. There are a lot of fears that this might eventually spread towards Europe and eventually the world.
Not only that, there are major concerns that Sentiment in Asian stock markets weakened amid fears that China's efforts to rein in soaring credit growth could hamper the global economic recovery.
Well, this is definitely a period of uncertainty in the market....
Singapore's index fell for a sixth session on Wednesday, weighed down by selling in Genting and other big caps, while Malaysia hit its lowest in almost a month, with banks suffering the most.
Most likely, the fall and impact especially towards the bank was due to worries among the public regarding the recent banking proposals in the United States by the Obama administration. There are tough and strict rules being proposed to limit the size and the scope of activities of the country's biggest banks. There are a lot of fears that this might eventually spread towards Europe and eventually the world.
Not only that, there are major concerns that Sentiment in Asian stock markets weakened amid fears that China's efforts to rein in soaring credit growth could hamper the global economic recovery.
Well, this is definitely a period of uncertainty in the market....
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