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 (Feb 14): The FBM KLCI gained 1.91 points or 0.1% after volatile trade as investors evaluated Malaysia's latest economic growth data while anticipating US inflation numbers. At 5pm, the KLCI settled at 1,834.93.
Earlier today, Bank Negara Malaysia said Malaysia's gross domestic product (GDP) expanded 5.9% in the fourth quarter of 2017 from a year earlier, driven mainly by private sector demand with support from the external sector. In a statement, Bank Negara said 2017 full-year GDP grew 5.9% on year compared with the 4.2% expansion in 2016.
"The GDP data release only reinforced the market's perception that 2017 was a good year. However, it didn't spark any significant push in Bursa Malaysia as investors are still generally jittery ahead of the announcement of US inflation data," Public Investment Bank Bhd head of research Ching Weng Jin told theedgemarkets.com.
The US Jan 2018 inflation data is scheduled to be announced later today. Investors closely watch the US inflation data, which offers clues on the pace of US interest rate hikes.
Such sentiment was apparent across Asian markets today. Reuters reported that Asian share markets turned mixed on Wednesday as investor nerves were strained ahead of a US inflation report that could soothe, or inflame, fears of faster rate hikes globally.
It was reported that Japan's Nikkei share average dropped to a fresh four-month low in choppy trade on Wednesday as investor sentiment was sapped by worries about US inflation data. The Nikkei ended 0.4 percent lower to 21,154.17. In Hong Kong, the Hang Seng Index was up 2.27 percent at 30,515.60.
Source: The Edge
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