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 ...
Bloomberg data showed that shares in Hong Leong Bank, which was among the top 10 active FBM KLCI counters, traded 0.9% or 14 sen higher to settle at RM16.02 today, despite thin trading volume of 334,100.
"While the blue chip stocks have been pretty lifeless of late, several heavyweights, like Hong Leong Bank, Fraser & Neave Holdings Bhd, British American Tobacco (Malaysia) Bhd and Tenaga Nasional Bhd — but especially Hong Leong Bank — contributed to the slight uptick in today's stock market," Inter-Pacific Securities Sdn Bhd's head of research Pong Teng Siew told theedgemarkets.com.
"Further, we had tech counters like ViTrox Corp Bhd and Pentamaster Corp Bhd, which traded up nicely," Pong added.
About 3.22 billion shares worth about RM1.99 billion were traded today.
Gainers outperformed losers with 426 against 362, while 477 counters settled unchanged.
Among the top gainers for the day were MESB Bhd, Pentamaster and ViTrox, while top losers included Panasonic Manufacturing Malaysia Bhd, Malaysian Pacific Industries Bhd and Lafarge Malaysia Bhd.
Across the region, Japan's Nikkei 225 grew 0.96%, Hong Kong's Hang Seng Index was up 0.06%, while the Korea Composite Stock Price Index was down 0.05%.
Reuters reported Asian stocks rose to a 10-year high on Friday, on expectations of brisk global growth. This was despite investors holding off chasing shares higher ahead of US economic data and next week's Chinese Communist Party congress.
"MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.23%, having gained 3.7% so far this month. Japan's Nikkei edged up 1% to another 21-year high," the report said.
Source: The Edge
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