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 (June 12): The FBM KLCI fell 11.64 points or 0.7% while the ringgit weakened as investors anticipated major central banks' monetary policies this week.
At 5pm, the KLCI finished at 1,764.16 points after the ringgit depreciated to its weakest level today against the US dollar at 3.9940.
Reuters reported that the US Federal Reserve holds a two-day meeting starting on June 12, and it is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018.
It was reported that the European Central Bank (ECB) meets on June 14, when it could signal intentions to start unwinding its massive bond purchasing programme. Also, the Bank of Japan on Friday concludes a two-day meeting at which it is widely expected to keep its loose monetary policy intact.
In Malaysia today, JF Apex Securities Bhd senior research analyst Lee Cherng Wee said that catalysts that investors will be looking for this week include the potential outcome of the US Federal Reserve and ECB meetings.
“All eyes will be on the interest rate announcements by the Fed and ECB’s stand on its quantitative easing policy,” Lee told theedgemarkets.com
Across Bursa Malaysia today, 2.36 billion shares valued at RM2.39 billion were traded. Top decliners included Top Glove Corp Bhd, S P Setia Bhd and Genting Bhd.
Leading gainers included British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd and Nestle (M) Bhd.
Source: The Edge
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