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 (Jan 5): The FBM KLCI gained 12.35 points or 0.7% with Asian shares after the U.S. Federal Reserve's latest meeting minutes indicated faster U.S. economic growth, when Donald Trump becomes president.
Trump's inauguration as U.S. President will be held this Jan 20. Trump's election win has led to anticipation of higher U.S. inflation, due to his planned expansionary fiscal policies.
At Bursa Malaysia today, the KLCI closed at its intraday high at 1,659.82 points. Bursa Malaysia saw 2.51 billion shares, worth RM1.85 billion traded.
Elsewhere, Hong Kong's Hang Seng gained 1.46%.
Reuters reported minutes from the Federal Reserve's December meeting showed almost all Fed policymakers thought the U.S. economy could grow more quickly, after Trump becomes president.
In Malaysia, JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com that from a technical viewpoint, the KLCI had broken away from its downtrend.
“Current resistance level would be 1,660 points. The index’s movement will depend on whether it can break this level," Lee said.
Source: The Edge
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