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 10): The FBM KLCI fell 2.8 points or 0.2% despite optimism in global markets as investors sold KLCI-linked stocks like Petronas Chemicals Group Bhd and Genting Bhd.
Analysts said investors at Bursa Malaysia appeared to be emphasising individual stocks instead of sectors.
“It’s been very quiet and it seems that investors are focusing on individual stocks rather than particular sectors," Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew said.
At 5pm, the KLCI closed at 1,757.13 points. Petronas Chemicals dropped 20 sen to RM6.89 while Genting Bhd fell 16 sen to RM9.03.
Petronas Chemicals and Genting Bhd were Bursa Malaysia's sixth and eighth-largest decliners respectively.
Across Bursa Malaysia, 1.67 billion shares worth RM1.52 billion were traded. There were 556 decliners and 294 gainers.
The most-actively traded stock was newly-listed Advancecon Holdings Bhd with some 132 million shares traded. The stock added 21.5 sen to close at 84.5 sen .
Malaysian shares fell despite global share gains. Japan’s Nikkei 225 gained 0.76% while Hong Kong’s Hang Seng climbed 0.63%.
Reuters reported that world stock markets rallied on Monday and the US dollar hit a two-month high against the yen as the latest US jobs data gave investors greater confidence in the strength of the economy.
Source: The Edge
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