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 27): Bursa Malaysia rebounded to end marginally higher due to bargain-hunting activities during the final hour of trading, said an analyst.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.02% or 0.23 of-a-point to 1,515.99 from 1,515.76 at Wednesday's close.
The key index which opened 0.72 of-a-point higher at 1,516.48, moved between 1,510.64 and 1,518.61 during the trading session.
The overall market breadth was, however, negative with losers outpacing gainers 589 to 329, while 395 counters were unchanged, 947 untraded, and 31 others suspended.
Total turnover declined to 2.22 billion units valued at RM1.77 billion versus Wednesday’s 2.36 billion units worth RM1.84 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices, meanwhile, closed mostly lower as investors weighed the likelihood that the US Federal Reserve would raise interest rates in March.
Elsewhere, geopolitical tension surrounding Russia exerted additional downside pressure on equity markets globally.
“As for the local bourse, we reckon investor sentiment will remain soft for a short period due to the abovementioned factors, hence we anticipate the index to trend around the 1,510-1,520 range towards the weekend,” he told Bernama.
Gainers were led by Kuala Lumpur Kepong Bhd, which added 22 sen to RM21.72, Nestle (Malaysia) Bhd, which gained 20 sen to RM133, and Hartalega Holdings Bhd, which rose 11 sen to RM5.60.
Among other heavyweights, Malayan Banking Bhd was flat at RM8.30, Public Bank Bhd added one sen to RM4.21, Petronas Chemicals Group Bhd fell two sen to RM8.90, IHH Healthcare Bhd improved two sen to RM6.38 while CIMB Group Holdings Bhd eased one sen to RM5.25.
As for the most actives, Dagang NeXchange Bhd was down 2.5 sen to 92 sen, Hibiscus Petroleum Bhd rose nine sen to 97 sen, and Dataprep Holdings Bhd was five sen higher at 61.5 sen.
On the index board, the FBM ACE slid 85.64 points to 5,998.37, FBM 70 slipped 85.04 points to 13,348.23, FBM Emas Index went down 16.01 points to 10,872.11, FBMT 100 Index erased 13.83 points to 10,583, and FBM Emas Shariah Index decreased 23.53 points to 11,546.66.
Sector-wise, the Financial Services Index gained 17.22 points to 15,764.11, the Industrial Products and Services Index eased 0.74 of-a-point to 199.55, while the Plantation Index increased 34.2 points to 6,632.18.
The Main Market volume increased to 1.44 billion shares worth RM1.54 billion versus Wednesday’s 1.35 billion shares valued at RM1.54 billion.
Warrants turnover narrowed to 277.33 million units valued at RM35.12 million from 368.75 million units worth RM34.8 million on Wednesday.
The ACE Market volume dwindled to 499.54 million shares worth RM202.41 million against 638.41 million shares valued at RM261.51 million on Wednesday.
Consumer products and services counters accounted for 195.56 million shares traded on the Main Market, industrial products and services (381.73 million), construction (71.32 million), technology (346.12 million), SPAC (nil), financial services (50.89 million), property (91.5 million), plantation (9.56 million), REITs (4.63 million), closed/fund (5,900), energy (216.31 million), healthcare (30.42 million), telecommunications and media (11.52 million), transportation and logistics (24.21 million), and utilities (9.01 million).
Source: The Edge
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