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 8): The FBM fell 0.42% today as investors resorted to taking profit after a two-day rally and also due to the uncertainties on the external front.
The benchmark index closed 7.49 points lower at 1,778.32.
"This is a normal pullback, as investors monetise on their investment after a long rally since Wednesday," Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
Nik Ihsan said the market pullback is expected to continue into next week with no new catalyst in sight as the government embarks on various economic reforms and reviews current mega-infrastructure projects.
Across Bursa Malaysia today, the trading volume stood at 3.1 billion shares valued at RM2.42 billion, compared with 4.17 billion shares worth RM3.39 billion yesterday.
MY EG Services Bhd topped the active list with 170.98 million shares exchanging hands, equivalent to 4.74% of its share capital.
Gainers were led by Dutch Lady Milk Industries Bhd, British American Tobacco (Malaysia) Bhd and Malaysian Pacific Industries Bhd, while Nestle (M) Bhd was the top decliner, followed by Heineken Malaysia Bhd and Pharmaniaga Bhd.
The KLCI's fall was in tandem with Japan's Nikkei225 Index, which dropped 0.56%, while China's CSI300 Index retreated 1.34%. Hong Kong's Hang Seng Index slipped 1.76%, and South Korea's Kospi lost 0.77%.
Reuters reported that Asian shares retreated from a 2.5-month high today as investors turned away from emerging markets due to uncertainties over global trade relations, and expectations of more US rate hikes and a wind down of a massive monetary stimulus in Europe.
Source: The Edge
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