KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers. At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79. The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session. Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended. Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by t...
KUALA LUMPUR (Jan 10): Late buying in selected heavyweights led by CIMB and Press Metal lifted Bursa Malaysia to end at its intraday high on Monday (Jan 10), amid mixed performance on regional bourses, dealers said.
The two counters contributed a combined 5.70 points to the gains in the barometer index, the dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 7.06 points to 1,550.17, from 1,543.11 at Friday’s closed.
The index opened 0.27 of-a-point better at 1,543.38 and hit a low of 1,540.31 amid mixed market sentiment.
The overall market breadth however, was slightly negative with decliners beating advancers 502 to 454, while 402 counters were unchanged, 915 untraded, and 21 others suspended.
Total turnover widened to 6.65 billion units worth RM2.38 billion versus 4.14 billion units valued at RM1.90 billion last Friday.
Rakuten Trade Sdn Bhd Vice-President of Equity Research, Thong Pak Leng said FBM KLCI ended higher as investors continued to bargain hunt particularly for glove and banking heavyweights.
“Key regional markets trended mostly higher despite negative cues from Wall Street on Friday, as traders continued to pick up stocks at a bargain after the recent sell-off.
“Nonetheless, some investors remain concerned on whether the US Federal Reserve (Fed) will raise rates at a time of slowing economic growth as a result of the rapidly spreading Omicron variant of the Covid-19,” he told Bernama on Monday.
Japan's Nikkei 225 slipped 0.03% to 28,478.56, Hong Kong’s Hang Seng Index gained 1.08% to 23,746.54, Singapore’s Straits Times Index added 0.67% to 3,226.76, and South Korea’s Kospi fell 0.95% to 2,926.72.
On the domestic front, Thong said the FBM KLCI moved in a tight consolidation mode since early January as investors remained cautious due to heightened regional volatility.
“However, we reckon the index is well supported above the 1,530 level. We continue to maintain our cautiously optimistic view and expect bargain hunting activities to continue, while on the other hand, we remain cautious given the increasing risk amid the potential interest hike by the Fed in the US.
“As such, we expect the benchmark index to trade within the 1,540-1,560 range for the week. Technically, the immediate support is unchanged at 1,530 while resistance is at 1,570,” he added.
Among heavyweights, Maybank and Public Bank gained 2.0 sen each to RM8.34 and RM4.18, respectively, Petronas Chemicals garnered 11 sen to RM8.90, CIMB jumped 21 sen to RM5.67, IHH Healthcare trimmed 6.0 sen to RM6.68, while Press Metal surged 13 sen to RM5.88.
Of the actives, Fintec and XOX earned half-a-sen each to 1.5 sen and 3.0 sen, respectively, Trive Property added 5.0 sen to 13 sen, while MQ Technology advanced 1.5 sen to 12 sen.
On the index board, the FBM Emas Index was 13.27 points firmer at 11,230.69, the FBMT 100 Index improved 19.61 points to 10,923.25, the FBM Emas Shariah Index decreased 32.84 points to 12,026.64, the FBM ACE soared 61.86 points to 6,753.89, and the FBM 70 lost 105.05 points to 14,222.36.
Sector-wise, the Financial Services Index chalked up 158.91 points to 15,866.33, the Industrial Products and Services Index added 0.67 of-a-point to 202.94, while the Plantation Index climbed 12.06 points to 6,730.89.
The Main Market volume expanded to 3.47 billion shares worth RM1.98 billion compared with 1.97 billion shares worth RM1.5 billion last Friday.
Warrants turnover improved to 248.02 million units worth RM33.34 million from 247.10 million units worth RM32.95 million.
The ACE Market volume widened to 2.95 billion shares worth RM360.39 million versus 1.92 million shares valued at RM364.64 million previously.
Consumer products and services counters accounted for 600.94 million shares traded on the Main Market, industrial products and services (1.04 billion), construction (213.26 million), technology (703.99 million), SPAC (nil), financial services (68.56 million), property (209.20 million), plantation (11.34 million), REITs (5.27 million), closed/fund (20,000), energy (208.94 million), healthcare (78.86 million), telecommunications and media (42.66 million), transportation and logistics (264.94 million), and utilities (17.55 million).
Source: The Edge
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