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 25): Bursa Malaysia closed weaker across the board on Tuesday (Jan 25) amid regional volatility, a dealer said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 0.85% or 12.95 points to 1,508.91 from 1,521.86 at Monday's close.
The key index opened 4.77 points weaker at 1,517.09 on Tuesday and fluctuated between 1,503.34 and 1,517.09 throughout the trading session.
The overall market breadth was negative with decliners outnumbering advancers 803 to 215, while 348 counters were unchanged, 914 untraded and 30 others suspended.
Total turnover declined to 2.80 billion units valued at RM2.14 billion versus Monday’s 2.83 billion units worth RM1.88 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the regional key indices closed mostly lower due to weak investor sentiment amid inflation and geopolitical concerns ahead of the US Federal Open Market Committee (FOMC) meeting.
“While the US Federal Reserve is likely to leave interest rates unchanged, there are hints that the first rate increase could happen as early as the next meeting in March.
“Meanwhile concerns over the quick-spreading Omicron cases also dented market sentiment,” he told Bernama.
On the domestic front, he said investors are expected to remain cautious with the FBM KLCI hovering just above its 1,500 critical support level although bargain hunting may emerge soon.
“As such, we anticipate the FBM KLCI to move between 1,500-1,515 for the remainder of the week,” he added.
Among Bursa’s heavyweights, Malayan Banking Bhd fell two sen to RM8.23, Public Bank Bhd eased one sen to RM4.18, Petronas Chemicals Group Bhd and CIMB Group Holdings Bhd were flat at RM8.90 and RM5.25 respectively, while IHH Healthcare Bhd lost 14 sen to RM6.33.
Of the actives, Dagang NeXchange Bhd was seven sen lower at 86 sen, Coraza Integrated Technology Bhd and SMTrack Bhd eased half-a-sen to 81 sen and 19 sen respectively. Meanwhile, Senheng New Retail Bhd, which made its debut on the Main Market on Tuesday, contracted 21.5 sen to 85.5 sen.
On the index board, the FBM Emas Index slid 94.18 points to 10,823.33, the FBM Emas Shariah Index fell 126.13 points to 11,500.79, the FBM ACE erased 131.98 points to 5,971, the FBM 70 dipped 74.76 points to 13,331.02, and the FBMT 100 Index dropped 83.45 points to 10,541.59.
Sector-wise, the Financial Services Index slipped 39.96 points to 15,660.9, the Industrial Products and Services Index fell 1.89 points to 198.62, while the Plantation Index narrowed 95.32 points to 6,631.31.
The Main Market volume expanded to 1.7 billion shares valued at RM1.85 billion versus Monday’s 1.66 billion shares worth RM1.58 billion.
Warrants turnover climbed to 368.65 million units worth RM42.9 million from 263.31 million units valued at RM25.64 million previously.
The ACE Market volume reduced to 731.74 million shares valued at RM249.12 million against 893.52 million shares worth RM272.47 million on Monday.
Consumer products and services counters accounted for 468.35 million shares traded on the Main Market, industrial products and services (366.41 million), construction (88.57 million), technology (350.51 million), SPAC (nil), financial services (72.38 million), property (136.24 million), plantation (13.32 million), REITs (4.85 million), closed/fund (7,000), energy (80.48 million), healthcare (51.25 million), telecommunications and media (17.22 million), transportation and logistics (35.29 million), and utilities (16.57 million).
Source: The Edge
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