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 (Dec 21): The FBM KLCI gained 4.58 points or 0.3%, mainly on late buying of Petronas Gas Bhd shares amid fund managers' extended window dressing activities.
At 5pm, the KLCI closed at 1,751.21 points. Petronas Gas rose 58 sen to RM16.96 to become Bursa Malaysia's biggest gainer.
Across Bursa Malaysia, decliners outweighed gainers at 440 to 375 respectively. Trading volume was 2.48 billion shares worth RM2.06 billion.
Malacca Securities Sdn Bhd senior research analyst Kenneth Leong told theedgemarkets.com that the KLCI benefitted from fund managers' extended window dressing particularly on Petronas-related counters like Petronas Gas and Petronas Chemicals Group Bhd.
“We expect the market to be muted moving into the post-Christmas holiday period as investors lock in their profits. We were seeing some of them doing so today judging from the negative market breadth,” Leong said.
Across Asian share markets, Japan’s Nikkei 225 fell 0.11% while South Korea's Kospi declined 1.72%. Hong Kong's Hang Seng gained 0.45%.
Reuters reported that Asian markets offered a muted reception on Thursday to the passage of US tax cuts as benefits to company bottom lines were already factored into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
It was reported that South Korea was dragged down by weakness in Samsung, but Indonesia rose after Fitch upgraded the country's credit rating.
Source: The Edge
Comments
Post a Comment