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 10): The FBM KLCI closed 0.75% lower today amid renewed fears on the Wuhan coronavirus outbreak, as death toll climbed.
The benchmark index snapped its four days of consecutive gains, as it retreated 11.69 points to 1542.80, dragged by Hong Leong Financial Group Bhd, Sime Darby Bhd and Genting Malaysia Bhd.
Rakuten Trade vice president of research Vincent Lau, when contacted, maintained that “the focus remains on the coronavirus outbreak”, where the death toll has surpassed that of the severe acute respiratory syndrome (SARS) outbreak in 2003 over the weekend.
At press time, the virus has infected over 40,000 individuals in 28 countries, with 910 officially dead.
Meanwhile, foreign investors are reported to have continued to sell Malaysian equities. Foreign investors disposed of RM327.4 million net of local equities last week, the third weekly foreign net outflow so far in 2020.
Acoss Bursa Malaysia, some 2.42 billion shares valued at RM1.92 billion exchanged hands. Decliners led gainers by 597 to 285.
The Shanghai SSE Composite Index rose 0.51% as mainland China loosened travel restrictions, as its population returned to work. The Shenzen SZSE Component Index, too, rose 1.1%.
Elsewhere, markets were mixed as sentiment remained jittery due to the virus outbreak. Hong Kong’s Hang Seng Index slid 0.59%, South Korea’s KOSPI retreated 0.49%, whereas Japan’s Nikkei 225 fell 0.6%.
Source: The Edge
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