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Market Daily Report: FBM KLCI Slips 0.5 Pct, Weighed By Selling In Selected Heavyweights

KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day.  In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended.   Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion.   ...
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Market Daily Report: FBM KLCI lower after 11th-hour profit taking as market adjusts to new Malaysian government


 
KUALA LUMPUR (May 17): The FBM KLCI fell 3.82 points or 0.2% on  profit taking in the final trading minutes and as markets adjusted to the new Malaysian government under Pakatan Harapan.
Fund managers said there was foreign selling of local shares.

At 5pm, the KLCI closed at 1,854.44 points after investors sold KLCI-linked stocks Astro Malaysia Holdings Bhd and AMMB Holdings Bhd. Other KLCI-linked decliners included Telekom Malaysia Bhd and YTL Corp Bhd.

The KLCI closed lower after rising to its intraday high at 1,867.09 points.

Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said the market still needs time to digest new policies by the new Malaysian government. Wong said there was still foreign selling of local shares as foreign investors do not like uncertainty.

“They have been reducing some of their stocks. This may be due to uncertainty in the Malaysian market which they do not like. However it may also be due to external factors such as higher US treasury yields (which) impacted flow of funds,” Wong told theedgemarkets.com.

Across Bursa Malaysia, 3.33 billion shares worth RM3.78 billion were traded. Top decliners included George Kent (M) Bhd and My E.G. Services Bhd.



Source: The Edge

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