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 (July 19): The FBM KLCI gained 6.17 points or 0.35% after foreign investors became net buyers of Malaysian shares and as Bursa Malaysia construction stocks rose.
Bursa Malaysia construction stocks rose after Prime Minister Tun Dr Mahathir Mohamad said today Malaysia will defer the planned Kuala Lumpur-Singapore High Speed Rail (HSR) instead of unilaterally cancelling the project.
At 5pm, the KLCI closed at 1,759.24 points. Bursa Malaysia's construction index gained 10.14 points or 4.87% to 218.43 points.
“If you look at the trade today, the construction sector has been doing very well. News reports talked about the likelihood of a return of the Kuala Lumpur-Singapore HSR project,” Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theegemarkets.com over telephone.
The selldown of Malaysian shares by foreign investors has toned down recently. Lau said today foreign investors turned into net buyers of Malaysian shares for the first time in July 2018 yesterday.
Today, Malaysia's construction sector and foreign investor sentiment led to a notable rise in share-trade volume and value across Bursa Malaysia. A total of 3.49 billion shares worth RM3.03 billion were traded. Yesterday, the bourse saw 2.63 billion shares transacted for RM2.18 billion.
Today, Bursa Malaysia top gainers included Malayan Banking Bhd and Iskandar Waterfront City Bhd (IWCity). IWCity rose 17.5 sen to 74.5 sen with about 134 million shares traded to close among Bursa Malaysia's most-active counters.
Source: The Edge
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