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 28): Bursa Malaysia ended the week broadly higher due to bargain-hunting activities in the lower liners and technology stocks, an analyst said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 0.27% or 4.03 points to 1,520.02 from 1,515.99 at Thursday's close.
The key index, which opened 2.26 points higher at 1,518.25, moved between 1,517.96 and 1,522.95 during the trading session.
Overall market breadth was positive with gainers outpacing losers 494 to 361, while 441 counters were unchanged, 972 untraded, and 79 others suspended.
Total turnover declined to 2.00 billion units valued at RM1.54 billion versus Thursday’s 2.22 billion units worth RM1.77 billion.
According to the analyst, the higher earnings in Apple Inc has somewhat lifted interest in the technology sector, as well as the Technology index.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said bargain hunting also emerged for banking stocks.
“Besides, the uptrend in crude palm oil and Brent crude, which stayed above RM5,600 per tonne and close to US$90 per barrel, respectively, has also attracted some buying interest on plantation and oil and gas stocks,” he told Bernama.
Regionally, Japan's Nikkei 225 gained 2.09% despite the negative cues overnight from Wall Street as investors picked up stocks at bargain prices following the recent sell-offs.
Among other heavyweights, Malayan Banking Bhd and Public Bank Bhd added one sen at RM8.31 and RM4.22 respectively, Petronas Chemicals Group Bhd was flat at RM8.90, IHH Healthcare Bhd rose two sen to RM6.40, and CIMB Group Holdings Bhd increased three sen to RM5.28.
As for the most actives, SMTrack Bhd lost half-a-sen to 16 sen, AHB Holdings Bhd added 2.5 sen to 13 sen, Dagang NeXchange Bhd was 1.5 sen higher at 93.5 sen, while Opcom Holdings Bhd rose five sen to RM1.05.
On the index board, the FBM ACE gained 60.66 points to 6,059.03, FBM 70 increased 12.97 points to 13,361.21, FBM Emas Index went up 28.93 points to 10,901.04, FBMT 100 Index ticked up 24.16 points to 10,607.16, and the FBM Emas Shariah Index added 33.93 points to 11,580.59.
Sector-wise, the Financial Services Index perked up 15.52 points to 15,779.64, the Industrial Products and Services Index was 0.86 of-a-point firmer at 200.41, while the Plantation Index climbed 17.93 points to 6,650.11.
The Main Market volume dipped to 1.21 billion shares worth RM1.3 billion versus Thursday’s 1.44 billion shares valued at RM1.54 billion.
Warrants turnover narrowed to 259.79 million units valued at RM31.15 million from 277.33 million units worth RM35.12 million on Thursday.
The ACE Market volume expanded to 524.78 million shares worth RM202.22 million against 499.54 million shares valued at RM202.41 million previously.
Consumer products and services counters accounted for 273.65 million shares traded on the Main Market, industrial products and services (236.6 million), construction (97.39 million), technology (214.52 million), SPAC (nil), financial services (54.42 million), property (113.31 million), plantation (29.13 million), REITs (4.14 million), closed/fund (90,000), energy (93.01 million), healthcare (47.26 million), telecommunications and media (13.94 million), transportation and logistics (31.03 million), and utilities (7.86 million).
Source: The Edge
Comments
Post a Comment