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 ...
It has been a bad start to December for Malaysia stock market.
And this trend is seen to be continued as FBM KLCI dropped by 27.82 points to close at 1758.150. This is largely due to foreign selling amid concerns over the weakening Ringgit.
 |
| FBM KLCI close at 1758.150 |
The Malaysian Ringgit's weakness is seen as the main concern for foreign investors. The Ringgit weakened to 3.4435 against the US Dollar.
Bursa Malaysia saw 692 decliners and only 179 gainers while 247 counters remain unchanged.
Dutch Lady Milk Industries Bhd, Petronas Dagangan Bhd and Huat Lai Resources Bhd are the top gainers while the top decliners were BAT, PPB Group Bhd and BLD Plantation Bhd.
(source from The Edge Markets)
The drop in the market is largely due to the concerns over the weakening Ringgit and the impact of lower crude oil prices. It is going to be difficult to gauge the bottom of the crude oil price but if this continue, Malaysia will definitely see a bearish end to 2014, going into 2015.
Comments
Post a Comment