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 13): Bursa Malaysia ended higher in volatile trading on Thursday (Jan 13), boosted by continuous buying support in selected heavyweights led by Petronas Chemicals Group Bhd and Malayan Banking Bhd (Maybank), dealers said.
The two counters contributed a combined 4.04 points to the gains in the barometer index, the dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.31 points or 0.4% to 1,569.51 from 1,563.2 at Wednesday’s close.
The index opened 1.24 points lower at 1,561.96 and fluctuated between 1,560.29 and 1,570.14 throughout the trading session.
The overall market breadth, however, was negative with decliners beating advancers 642 to 343, while 398 counters were unchanged, 884 untraded and 40 others suspended.
Total turnover rose to 3.46 billion units worth RM2.14 billion versus 3.37 billion units valued at RM1.91 billion on Wednesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed higher as buying interest continued on selected heavyweights such as oil and gas, plantation and banks during the final hour of trading.
“Meanwhile, key regional indices trended broadly lower due to expectations that the US Federal Reserve (Fed) will hike interest rates as early as March 2022,” he told Bernama on Thursday.
Japan's Nikkei 225 slipped 0.96% to 28,489.13, Hong Kong’s Hang Seng Index went up 0.11% to 24,429.77, Singapore’s Straits Times Index added 0.08% to 3,257.62 and South Korea’s Kospi fell 0.35% to 2,962.09.
On the domestic front, Thong said the FBM KLCI is attempting to break the 1,570 technical resistance.
“If the resistance is broken, we may see the index heading towards the 1,600 mark. Overall, we remain cautiously optimistic and reckon buying activities to continue, while on the other hand, we are wary over external factors given the increasing regional market volatility amid news on the interest rate hike by the Fed in the US.
“As such, we expect the FBM KLCI to trend within the range of 1.565-1,575 towards the weekend,” he added.
Among heavyweights, Maybank gained nine sen to RM8.50, Petronas Chemicals jumped 15 sen to RM9.15, CIMB Group Holdings Bhd and Tenaga Nasional Bhd improved three sen each to RM5.59 and RM9.10 respectively, while Public Bank Bhd slipped one sen to RM4.24.
Of the actives, Pegasus Heights Bhd and VSolar Group Bhd were flat at one sen and 1.5 sen respectively, while AHB Holdings Bhd shed eight sen to 20 sen and MQ Technology Bhd eased half-a-sen to eight sen.
On the index board, the FBM Emas Index was 13.66 points firmer at 11,315.72, the FBMT 100 Index improved 18.43 points to 11,012.83, the FBM Emas Shariah Index decreased 2.85 points to 12,074.49, while the FBM ACE dipped 94.01 points to 6,488.63, and the FBM 70 trimmed 89.04 points to 14,136.21.
Sector-wise, the Financial Services Index surged 127.92 points to 16,222.83, the Industrial Products and Services Index added 0.78 of-a-point to 206.1, while the Plantation Index climbed 34.06 points to 6,773.98.
The Main Market volume was lower at 2.08 billion shares worth RM1.91 billion compared with 2.11 billion shares worth RM1.66 billion on Wednesday.
Warrants turnover advanced to 241.93 million units worth RM30.63 million from 212.08 million units worth RM27.91 million on Wednesday.
The ACE Market volume expanded to 1.13 billion shares worth RM202.71 million versus 1.04 billion shares valued at RM217.64 million previously.
Consumer products and services counters accounted for 450.38 million shares traded on the Main Market, industrial products and services (530.5 million), construction (87.09 million), technology (248.6 million), SPAC (nil), financial services (95.89 million), property (323.3 million), plantation (15.7 million), REITs (12.08 million), closed/fund (23,400), energy (176.05 million), healthcare (44.11 million), telecommunications and media (23.03 million), transportation and logistics (55.26 million), and utilities (22.85 million).
Source: The Edge
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