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 11): The FBM KLCI closed 4.97 points or 0.32% higher today while small market capitalisation (small cap) stocks rose by a larger quantum amid revived optimism on US-China trade talks and as investors evaluated Malaysia's Budget 2020 announcement.
At 5pm the KLCI closed at 1,556.84 after broad-based buying across Bursa Malaysia. The small-cap index rose 138.38 points or 1.05% to 13,311.92.
"Local market sentiment should recover further today on hopes for some concessions from US-China trade talks, and optimism for goodies and stimulus for selective sectors from Budget 2020 this afternoon," TA Securities Holdings Bhd wrote in a note today.
Across Bursa, 2.29 billion shares were traded for RM1.6 billion. Leading gainers included KLCI stocks MISC Bhd and Tenaga Nasional Bhd.
MISC closed 24 sen or 2.99% higher at RM8.28 while Tenaga ended up 22 sen or 1.61% at RM13.88.
Globally, Reuters reported that Southeast Asian stock markets opened higher on Friday, with Indonesia leading the gains, as revived optimism over the ongoing Sino-US trade talks boosted investor sentiment.
It was reported that market sentiment turned positive after a first day of trade talks between top US and Chinese negotiators that Trump characterised as "very, very good".
"All commentaries coming from the first day of talks seemed to be helping the markets in the region, given this is something everyone was waiting for," Joel Ng, an analyst with KGI Securities was quoted as saying.
Source: The Edge
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