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 (Feb 15): The FBM KLCI reversed earlier gains to end 0.01% lower, along with key Asian markets on Friday, amid foreign selling of local equities.
At 5pm, the benchmark index closed at 1,688.83, down 0.23 points from Thursday's close of 1,689.06. Earlier in the day, the FBM KLCI hit an intraday high of 1,693.85 after opening 3.23 points higher at 1,692.29.
Across Asia, Japan's Nikkei 225 fell 1.13% and South Korea's Kospi lost 1.34%, while Hong Kong's Hang Seng dropped 1.87% and China's Shanghai Stock Exchange Composite declined 1.37%.
CNBC reported that major Asian stock markets closed lower on Friday, following the release of US retail data overnight, which raised concerns over a slowing American economy. Investors await developments from the ongoing US-China trade negotiations in Beijing.
Back to the local equity market, TA Securities technical analyst Steven Soo told theedgemarkets.com that the KLCI had been trading sideways today, as foreign selling pressure weighs on Malaysian blue chips.
He expects the benchmark index to continue to be range bound in the near term, pending positive catalysts that could push the KLCI through the 1,705-point resistance level.
Across Bursa Malaysia, market breadth was negative with 457 losers against 326 gainers, while 430 counters traded unchanged. A total of 3.06 billion shares were traded today, valued at RM1.99 billion.
Among the gainers are consumer-related stocks like Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd. As for losing counters, Nestle (Malaysia) Bhd, IHH Healthcare Bhd and QL Resources Bhd were among the top on the list.
The most-active stocks included oil and gas-related companies Sapura Energy Bhd, Bumi Armada Bhd and Hibiscus Petroleum Bhd.
Source: The Edge
He expects the benchmark index to continue to be range bound in the near term, pending positive catalysts that could push the KLCI through the 1,705-point resistance level.
Across Bursa Malaysia, market breadth was negative with 457 losers against 326 gainers, while 430 counters traded unchanged. A total of 3.06 billion shares were traded today, valued at RM1.99 billion.
Among the gainers are consumer-related stocks like Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd. As for losing counters, Nestle (Malaysia) Bhd, IHH Healthcare Bhd and QL Resources Bhd were among the top on the list.
The most-active stocks included oil and gas-related companies Sapura Energy Bhd, Bumi Armada Bhd and Hibiscus Petroleum Bhd.
Source: The Edge
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