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 ...
As Brent crude oil prices hit a five and a half year low of nearly US$57 per barrel and the ringgit hit a near five year low of 3.5027 to the dollar, the FBM KLCI also slips 0.09% today and closes at 1,766.830.
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| FBM KLCI closes at 1,766.830 |
There were 382 gainers against 402 decliners, while 304 counters remained unchanged.
In our post earlier on the oil price slump, we were of the opinion that Bursa Malaysia would follow suit as per the declining trend of the oil price as we see a sharp drop.
Today's top gainers: Hong Leong Capital Berhad, British American Tobacco Bhd and Apex Healthcare Bhd.
The top decliners: Multi-Usage Holdings Bhd, Press Metal Bhd, and Aeon Co. Bhd.
Hubline Bhd was the most actively traded stock for today.
While the oil price dropped about 1%, the FBM KLCI only decline slightly at about 0.09%. This is most likely because of the support from the local institutional investors.
The holiday season also contribute to one of the reasons why the market did not react in tandem to falling oil prices.
Regionally, Hong Kong's Hang Seng was down by 1.14%, Japan's Nikkei was 1.57% lower, and South Korea's Kospi was also lower by 0.64%.
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