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 ...
KUALA LUMPUR (Nov 25): The FBM KLCI rose 3.05 points or 0.2% on late buying of index-linked plantation shares like Kuala Lumpur Kepong Bhd (KLK) and Sime Darby Bhd as the ringgit weakened to a new one-year level against the US dollar.
Plantation shares could have taken the cue from a weaker ringgit, which bodes well for Malaysian crude palm oil (CPO) exports and prices. The ringgit depreciated to its new one-year level at 4.4690 against the US dollar today on expectation of a US interest rate hike next month.
"Plantation counters' performance is better than other sectors as CPO prices climbed to more than RM3,000 a tonne," Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com.
At 5pm, the KLCI ended at 1,627.26 points. KLK shares climbed 36 sen to RM24.10 to become Bursa Malaysia's second-largest gainer while Sime Darby rose six sen to RM8.10.
Reuters reported that Malaysian palm oil futures continued their uptrend, rising 0.73% in first-half trade on Friday, and were headed for a fifth consecutive session of gains due to a weak ringgit and declining output.
It was reported that benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange were up 0.73% at RM3,026 (US$678.48) a tonne at the midday break.
At 5pm, Bursa Malaysia saw 402 decliners versus 347 advancers. A total of 1.28 billion shares valued at RM1.24 billion changed hands.
Among major decliners, OldTown Bhd shares fell 15 sen to RM1.87 after the Securities Commission excluded OldTown from the regulator's Shariah-compliant securities list.
Source: The Edge
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