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 (Dec 19): The FBM KLCI fell 3.49 points or 0.2% as the ringgit weakened against the US dollar to levels seen during the 1998 Asian financial crisis.
At 5pm today, the KLCI closed at 1,634.30 points. The ringgit depreciated to its weakest level against the US dollar so far today at 4.4805. Bloomberg reported that the exchange rate was the weakest since January 1998.
Today, JF Apex Securities Bhd research head Lee Chung Cheng told theedgemarkets.com: "Basically the market's performance today is in line with US markets (which were also down) and weak ringgit. We believe there is a lack of catalysts to excite the local market at this point."
The ringgit weakened after the US Federal Reserve raised interest rates last week and indicated further hikes in 2017. Such sentiment was in anticipation of higher US inflation due to US President-elect Donald Trump's planned expansionary fiscal policies.
At Bursa Malaysia today, the exchange saw 1.33 billion shares valued at RM1.35 billion traded.
There were 307 gainers and 401 decliners.
Source: The Edge
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