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 17): Bursa Malaysia ended broadly lower on Monday (Jan 17), with the key index falling 0.8% on bearish market sentiment and weighed down by selling in selected heavyweights led by Dialog Group Bhd and Petronas Chemicals Group Bhd.
Both counters contributed a combined of 4.19 points to the decline in the index.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 12.41 points to 1,542.92 from 1,555.33 at Friday’s close.
The index opened 1.53 points lower at 1,553.8 and fluctuated between 1,541.07 and 1,555.31 throughout the trading session.The overall market breadth was negative with decliners trouncing advancers 556 to 336, while 408 counters were unchanged, 952 untraded, and 20 others suspended.
Total turnover fell to 2.59 billion units worth RM2.01 billion from 3.61 billion units worth RM2.95 billion on Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended lower as investors continued to take profits particularly in oil and gas as well as banking heavyweights.
Bursa Malaysia also bucked the regional trend as the major markets closed mostly higher following positive economic data from China as the country's gross domestic product grew 4% year-on-year and 1.6% quarter-on-quarter in the fourth quarter of 2021.
“On the other hand, investors are cautious ahead of the Bank of Japan’s meeting this week as policymakers are debating how soon interest rate hike will come.
“On the domestic front, despite the cautious market undertone, we expect bargain hunting to prevail given the cheap valuations of local stocks, continuous inflow of foreign investors, and improving macroeconomic conditions in the country,” Thong told Bernama.
As such, the FBM KLCI is expected to move within the 1,540-1,560 range this week, with immediate resistance at 1,570 and support at 1,530, he added.
Regionally, Japan’s Nikkei 225 rose 0.74% to 28,333.52, Singapore’s Straits Times Index advanced 0.17% to 3,287.57, while Hong Kong’s Hang Seng Index fell 0.68% to 24,218.03.
Back home, heavyweights Dialog Group lost 22 sen to RM2.67, Petronas Chemicals trimmed 14 sen to RM8.95, Press Metal Aluminium Holdings Bhd fell 13 sen to RM5.92, while Tenaga Nasional Bhd was flat at RM9.04 and Public Bank Bhd gained two sen to RM4.22.
Of the actives, Komarkcorp Bhd rose 1.5 sen to 15 sen, Dagang NeXchange Bhd went up 2.5 sen to 86.5 sen, Iconic Worldwide Bhd added two sen to 30 sen, Kanger International Bhd was flat at two sen, SMTrack Bhd shed 5.5 sen to 23.5 sen, AirAsia Group Bhd edged down half-a-sen to 61.5 sen, and AHB Holdings Bhd declined 1.5 sen to 13 sen.
On the index board, the FBM Emas Index fell 76.22 points to 11,102.3, the FBMT 100 Index slipped 78.92 points to 10,806.73, the FBM Emas Shariah Index decreased 102.79 points to 11,778.02, the FBM ACE dipped 36.46 points to 6,243.17, and the FBM 70 declined 65.94 points to 13,786.63.
Sector-wise, the Financial Services Index slid 60.92 points to 16,091.16, the Industrial Products and Services Index eased 2.02 points to 200.94, and the Plantation Index was 98.37 points lower at 6,663.18.
The Main Market volume dwindled to 1.64 billion shares worth RM1.8 billion versus Friday’s 2.36 billion shares worth RM2.65 billion.
Warrants turnover shrank to 203.99 million units worth RM22.77 million from 262.03 million units worth RM31.58 million previously.
The ACE Market volume decreased to 730.73 million shares worth RM176.58 million from 968.34 million shares worth RM266.65 million last Friday.
Consumer products and services counters accounted for 411.4 million shares traded on the Main Market, industrial products and services (462.62 million), construction (81.26 million), technology (277.88 million), SPAC (nil), financial services (58.80 million), property (124.26 million), plantation (10.41 million), REITs (4.93 million), closed/fund (23,200), energy (117.52 million), healthcare (34.58 million), telecommunications and media (16.35 million), transportation and logistics (21.5 million), and utilities (19.21 million).
Source: The Edge
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