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 (June 22): The FBM KLCI closed 3.98 points or 0.26% higher at 1,511.24 after a final hour jump helped the index erased losses, following volatile trade, as concerns of a second wave in Covid-19-infections dented world market sentiment.
At 5pm, the KLCI closed higher after dropping to its intraday low at 1,502.64.
Across Bursa Malaysia, 6.33 billion shares worth RM3.11 billion were traded. There were 548 decliners and 434 gainers.
Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com that the KLCI’s rise "reflected a cautious regional performance” amid concerns of a resurgence in Covid-19 cases globally.
It was reported that emerging market stocks started the week on softer footing on Monday, after the World Health Organization reported a record global increase in Covid-19 cases, while South Africa’s rand weakened ahead of a local emergency budget later this week.
"Fears of a second wave of coronavirus infections pushed the MSCI’s index of emerging market stocks 0.1% lower. The index had risen 1.5% in the previous week,” Reuters reported.
Across Bursa today, top gainers included KLCI stocks PPB Group Bhd and Hong Leong Financial Group Bhd (HLFG). PPB’s share price closed up 56 sen or 3.24% at RM17.86, while HLFG rose 26 sen or 1.85% at RM14.28.
The top active stock was MQ Technology Bhd, which saw some 506 million shares traded. MQ Technology’s share price closed up 1.5 sen or 30% at 6.5 sen.
Source: The Edge
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