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 (April 25): Malaysian stocks closed on a positive note today, in tandem with regional stock markets which finished up as relief took hold on the results of Sunday's election in France.
The FBM KLCI ended the day up 9.75 points or 0.56% at 1,765.80. The market traded between an intra-day high of 1,765.94 and a low of 1,758.47 today.
A total of 3.66 billion shares valued at RM3.113 billion changed hands. Market breadth was positive with 559 gainers, 388 losers and 377 counters traded unchanged on Bursa Malaysia.
"We are catching up with the US and European markets, which have [risen] overnight," Etiqa Insurance and Takaful head of research Chris Eng told theedgemarkets.com.
"The KLCI will continue to outperform the global and regional markets given the delayed effect, but it still depends on the global markets.
"However, we are getting closer to May when profit-taking will become more apparent. I am less positive towards the local market now than I was when it was 100 points lower," he added.
Concentrated buying will continue to weigh on banks, said Eng, with gainers such as Hong Leong Financial Group Bhd and Aeon Credit Service (M) Bhd continuing to be the market movers.
The top gainer was Nestle (Malaysia) Bhd, while British American Tobacco (Malaysia) Bhd led the decliners' list.
Elsewhere, regional markets have responded positively to the victory of market favourite Emmanuel Macron in the first round of the French presidential election, Reuters reported. Japan's Nikkei 225 rose 1.08%, South Korea's Kospi was up 1.06%, while Hong Kong's HSI gained 1.31%.
The ringgit edged higher against the greenback. At 5pm, the local currency gained 0.7% at 4.3685 to the US dollar.
Source: The Edge
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