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 (July 31): The FBM KLCI fell 7.05 points or 0.4% mainly on last-minute selling of index-linked Public Bank Bhd shares and after Lotte Chemical Titan Holding Bhd announced a year-on-year drop in its second quarter net profit.
Public Bank shares fell on news founder and chairman Tan Sri Dr Teh Hong Piow "wishes to relinquish his position as chairman" on Jan 1, 2019. Public Bank said this in a statement to Bursa Malaysia today.
Lotte Chemical Titan shares declined after the company said net profit dropped to RM113.62 million in the second quarter ended June 30, 2017 (2QFY17)from RM404.03 million.
At 5pm today, the KLCI closed at 1,760.03 points while Public Bank shares fell 26 sen to RM20.28. Lotte Chemical Titan dropped RM1.43 to RM4.70.
Lotte Chemical Titan and Public Bank were the top and third-largest decliners across Bursa Malaysia respectively. Lotte Chemical Titan was also the seventh most-active stock.
Inter-Pacific Research Sdn Bhd research head Pong Teng Siew said Lotte Chemical Titan's 2QFY17 financial results had dampened broader market sentiment.
"Lotte accounted for the steep drop in the KCLI’s performance after the midday break, shortly after Lotte announced its financial results,” Pong told theedgemarkets.
Across Bursa Malaysia, 1.94 billion shares valued at RM2.58 billion were traded.
There were 300 gainers and 534 decliners.
Source: The Edge

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