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 (May 14): The FBM KLCI erased 11th-hour gains today to close 1.9 points or 0.12% lower as investors evaluated the impact of the China-US trade tension on world markets.
At 5pm, the KLCI closed at 1,599.19 after rising to its intraday high at 1,603.72 during the final trading hour.
Earlier today, the KLCI fell as much as 29.06 points or 1.82% to its intraday low at 1,572.03 shortly after the 9am opening bell. At the 5pm closing figure of 1,599.19, the KLCI had rebounded 27.16 points from its intraday low.
Hartalega Holdings Bhd and Top Glove Corp Bhd share gains led the KLCI's recovery, in percentage terms, among the 30 components stocks while Sime Darby Plantation Bhd was the top decliner. Sime Darby Plantation closed down 23 sen or 4.68% at RM4.68 while Hartalega rose 16 sen or 3.31% to RM4.99.
“Despite the KLCI recovering most of the intraday losses, the key index remained in the red for the fifth straight session in line with the negative performance across its regional peers," Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com.
At a glance, the KLCI recovered with Asian shares following more optimistic comments from China and the US on the trade war.
Reuters reported that world stocks hovered near two-month lows on Tuesday, although slightly more optimistic comments from US and Chinese officials on trade brought some comfort a day after equities suffered their worst selloff so far this year. It was reported that fears the US and China are spiraling into a fiercer, more protracted trade dispute that could derail the global economy, has rattled share markets in recent weeks, and the selloff accelerated on Monday after China announced plans for retaliatory tariffs.
But the Chinese Government's top diplomat said China and the US both have the "ability and wisdom" to reach a trade deal that is good for both. And US President Donald Trump said he was optimistic about resolving the trade dispute, according to Reuters.
Across Asian stock indices, Japan's Nikkei 225 cut losses to close down 0.59%, while South Korea's Kospi erased losses for a 0.14% rise. In China, Hong Kong's Hang Seng pared losses for a 1.5% drop.
Source: The Edge
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