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 (June 13): The FBM KLCI fell 4.45 points or 0.2% to close at 1,784.44 points on profit taking ahead of the closely-watched US interest rate decision this week.
The US Federal Reserve's Federal Open Market Committee will decide on the country's interest rate direction upon conclusion of its two day meeting on Wednesday (June 14). US interest rate decisions are closely watched due to their impact on global fund flow.
In Malaysia today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com : “Overall, the Malaysian market is not having a big fluctuation, investors are still waiting for more clarity from global economic (factors) like UK’s Brexit development and US’ Federal Reserve’s widely-anticipated rate hike."
At Bursa Malaysia, investors took profit after the KLCI reached its intraday high at 1,793.01 points.
Bursa Malaysia saw a total of 2.05 billion shares worth RM2.57 billion change hands. There were 349 gainers versus 557 decliners.
Priceworth International Bhd was the most-actively traded counter with 117.35 million shares traded. The stock rose three sen to 27 sen.
Across Asian share markets, Hong Kong's Hang Seng rose 0.56% while South Korea's Kospi gained 0.71%. Japan’s Nikkei 225 declined 0.05%.
Reuters reported that Asian stocks rebounded on Tuesday despite a further slide in US tech shares, while the Canadian dollar soared on the possibility interest rates might go up sooner than expected.
Source: The Edge
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