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 19): Bursa Malaysia ended broadly lower on Wednesday (Jan 19), with the key index falling by 0.82% on bearish market sentiment led by banking stocks, ahead of Bank Negara Malaysia’s (BNM) first Monetary Policy Meeting in 2022 on Thursday.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 12.59 points to 1,530.33 from 1,542.92 at Monday’s close after opening 1.22 points easier at 1,541.7.
The key index fluctuated between 1,525.55 and 1,541.7 throughout the trading session.
Banking counters CIMB Group Holdings Bhd lost 18 sen to RM5.33, Malayan Banking Bhd fell nine sen to RM8.32 and Public Bank Bhd eased four sen to RM4.18, which contributed a combined 6.53 points to the decline in the index.
The overall market breadth was negative with decliners trouncing advancers 780 to 258, while 346 counters were unchanged, 864 untraded, and 27 others suspended.
Total turnover increased to 3.57 billion units worth RM2.61 billion against Monday’s 2.59 billion units worth RM2.01 billion.
The market was closed on Tuesday for Thaipusam public holiday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI was lower on Wednesday in line with continuous selling pressure across the region, particularly in banking and gaming stocks.
He noted that the key regional markets were also in negative territory as surging US treasury yields also contributed to the continuous global selloff.
Meanwhile, the Brent crude price continued its uptrend to close near US$89 per barrel amid possible disruption on the supply side following the latest attack on the United Arab Emirates.
“We expect buying interest in local oil and gas counters to remain strong in the short to mid term. Any further dips may attract some bargain-hunting activities.
“Hence, we reckon the FBM KLCI to move between the 1,520-1,540 range for the remainder of the week, with immediate support at 1,520 and resistance at 1,570,” Thong told Bernama.
At the time of writing, Brent crude rose 0.33% to US$87.80 per barrel.
Regionally, Japan’s Nikkei 225 declined 2.8% to 27,467.23, Singapore’s Straits Times Index eased 0.04% to 3,278.75, while Hong Kong’s Hang Seng Index gained 0.06% to 24,127.85.
Back home, heavyweights Petronas Chemicals Group Bhd and Tenaga Nasional Bhd both rose three sen to RM8.98 and RM9.07, respectively, IHH Healthcare Bhd was flat at RM6.56, Press Metal Aluminium Holdings Bhd declined four sen to RM5.88, and Hong Leong Bank Bhd dipped 30 sen to RM19.50.
Of the actives, Dagang NeXchange Bhd advanced 4.5 sen to 91 sen, Sarawak Consolidated Industries Bhd increased 6.5 sen to 27 sen, AHB Holdings Bhd edged up half-a-sen to 13.5 sen, EA Holdings Bhd and SMTrack Bhd eased one sen each to 1.5 sen and 22.5 sen respectively, while AirAsia Group Bhd decreased 2.5 sen to 59 sen.
On the index board, the FBM Emas Index fell 127.68 points to 10,974.62, the FBMT 100 Index slipped 121.05 points to 10,685.68, the FBM Emas Shariah Index decreased 108.93 points to 11,669.09, the FBM ACE dipped 151.61 points to 6,091.56, and the FBM 70 lost 297.84 points to 13,488.79.
Sector-wise, the Financial Services Index slid 246.55 points to 15,844.61, the Industrial Products and Services Index eased 1.89 points to 199.05, while the Plantation Index advanced 7.74 points to 6,670.92.
The Main Market volume went up to 2.35 billion shares worth RM2.37 billion from Monday’s 1.64 billion shares worth RM1.8 billion.
Warrants turnover improved to 260.14 million units worth RM25.76 million from 203.99 million units worth RM22.77 million previously.
The ACE Market volume increased to 953.68 million shares worth RM212.41 million from 730.73 million shares worth RM176.58 million on Monday.
Consumer products and services counters accounted for 524.83 million shares traded on the Main Market, industrial products and services (594.94 million), construction (145.14 million), technology (516.56 million), SPAC (nil), financial services (89.7 million), property (144.03 million), plantation (13.09 million), REITs (9.96 million), closed/fund (5,000), energy (191.44 million), healthcare (52.56 million), telecommunications and media (17.12 million), transportation and logistics (30.3 million), and utilities (21.37 million).
Source: The Edge
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