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 ...
FBM KLCI continued to inch slightly higher, as the market closed at 1,768.41 points, up by 3.97 points.
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| Market closed slightly higher |
This happened despite the fact that the oil prices continued to remain sluggish while the ringgit remains weak. Among the top gainers are Asia File Corporation Bhd, Ibraco Bhd and Kuala Lumpur Kepong Bhd (KLK). On the other hand, Dutch Lady Milk Industries Bhd, Syarikat Takaful Malaysia Bhd and AirAsia were the top decliners.
As expected, AirAsia was also the top active counter today as the AirAsia Flight QZ8510 went missing.
Many analysts are looking at AirAsia and expect to see some price weakness with the latest news.
The oil prices remained sluggish although it appeared to have stabilize while the ringgit seems to have near its bottom.
It is important to note that the market lack of movement could be due to the holiday season. Many analysts are expecting to see the year end window dressing.
Regionally, Hong Kong's Hang Seng was up 1.82%,whilst Japan's Nikkei was down 0.5%, while South Korea's Kospi was down 1.04%.
With some fresh gains on Wall Street and also the surge in Chinese shares (thanks to the optimism that the Chinese government would spur lending and continue to spur growth) contributed to Asian's rise in the stock.
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