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 ...
At 5pm, the KLCI settled at 1,774.22 points. Investors bargain hunted for local shares after the index fell 4.6 points to 1,771.62 points yesterday.
Today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com : “Overall market sentiment is still mixed, but the [KLCI] likely recouped its losses from yesterday due to its reaction to the earnings season.”
Malaysia's April-June quarter corporate financial-reporting season starts in July, although most companies report their earnings in August.
Today, Bursa Malaysia saw 392 gainers compared with 364 decliners. A total of 1.77 billion shares valued at RM1.89 billion were traded.
Top gainer was KESM Industries Bhd while Mlabs Systems Bhd was the top-active counter. Pong said penny stocks' performance was a good barometer for retail investors' sentiment.
Across Asian share markets, Japan’s Nikkei 225 fell 0.05% while Hong Kong’s Hang Seng rose 0.91%. South Korea's Kospi added 0.44%.
Reuters reported that Asian shares rose on Tuesday after modest gains on Wall Street, while robust metals prices underpinned some regional markets even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.
Source: The Edge
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