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 (Oct 17): The FBM KLCI closed 0.03% or 0.4 points lower to 1574.50 as the broader market was mostly lukewarm today, in line with the region, on a lack of updates on the US-China trade deal.
The benchmark index saw 2.33 billion shares traded at RM1.88 billion today.
TA Securities Holdings Bhd senior technical analyst Steven Soo told theedgemarkets.com that there was a tug-of-war going on as the KLCI closed in negative territory, with bargain hunting going on for mega blue chips.
“Nevertheless, the index is still holding up pretty well, despite mixed signals on the external market,” he said over the phone.
Soo also noted some rotational play going on amongst investors in the market.
“The oil and gas sector continues to be focus, whereas the property sector remains underperforming, perhaps because the recently-tabled Budget 2020 was not enough to boost sentiment,” he added.
Regionally, most markets were also tepid, as hopes of a Sino-US trade deal waned amid a lack of concrete details, Reuters said.
Japan’s Nikkei 225 index dropped 0.09%, while South Korea’s Kospi closed 0.23% lower.
In China, the Shanghai Composite Index ended 0.05% lower, though the Hang Seng was 0.69% higher.
Source: The Edge
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