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 25): The FBM KLCI opened at its intra-day high of 1707.02 points today, but it went downhill from there as investors remained wary about the threat of the trade war between the two economic giants, US and China.
At 5pm, the benchmark index settled at an intra-day low of 1678.10 points, down 16.05 points or 0.95%.
When contacted, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that the KLCI was dragged mainly by the banking sector today, which saw CIMB Group Holdings Bhd leading the fall.
The counter closed down 41 sen or 7.06% to settle at RM5.40, after seeing some 37.48 million shares done. It was the sixth most actively traded stock and the third largest loser on Bursa Malaysia today.
“Aside from banking stocks like CIMB and Maybank (Malayan Banking Bhd), some telcos also fell, including Telekom Malaysia Bhd, Axiata Group Bhd and DiGi.Com Bhd. Mainly because sentiment was bad, partly due to the US-China trade war,” he said.
“The KLCI is in line with the regional market today, which will still be dogged by trade war rhetoric in the short term until it is resolved, one of the parties (US or China) has to retreat,” he added.
Japan’s Nikkei fell 0.79% today, Hong Kong Hang Seng Index also declined 1.29%, while the South Korean Kospi gained 0.03%.
Bursa Malaysia saw 520 losers versus 298 gainers, while 406 counters remained unchanged. Total trading volume stood at 2.04 billion shares, worth some RM1.97 billion.
British American Tobacco (M) Bhd was the biggest loser, while the biggest gainer was structured put warrants that tracked the Hang Seng Index, HSI-H4N.
Sapura Energy Bhd was the most actively traded counter, with 195.4 million shares done.
Source: The Edge
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