KUALA LUMPUR, Jan 7 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) recovered from yesterday’s losses to close higher Tuesday, driven by bargain-hunting amidst the positive momentum on Wall Street overnight and most regional markets. At 5 pm, the market bellwether increased 4.32 points or 0.26 per cent to 1,629.79 compared with Monday’s close of 1,625.47. The index opened 0.97 of-a-point lower at 1,624.50 and moved between 1,624.50 and 1,634.27 throughout the day. However, the broader market was negative with losers outpacing gainers 614 to 490, while 537 counters were unchanged, 712 untraded and 10 others suspended. Turnover improved to 3.91 billion units valued at RM3.29 billion against Monday’s 3.47 billion units valued at RM2.66 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said optimism in the...
KUALA LUMPUR (Oct 13): Bursa Malaysia extended its downtrend at the close for the fourth consecutive trading day on Thursday (Oct 13), with the benchmark index hitting a new year-to-date (YTD) low, as cautious investors offloaded shares.
At 5pm, the benchmark FBM KLCI had fallen by 7.21 points, or 0.52%, to 1,373.36, from Wednesday's close at 1,380.57.
The barometer index opened 4.29 points higher at 1,384.86, before retreating in the mid-morning into negative territory.
It was traded between an intraday low of 1,372.57 and an intraday high of 1,385.07.
On the broader market, decliners surpassed gainers 521 to 321, while 353 counters were unchanged, 1,151 untraded, and nine others suspended.
Turnover widened to 2.03 billion units worth RM1.69 billion, from 1.85 billion units worth RM1.56 billion on Wednesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that the KLCI remained in negative territory, after a lacklustre trading day, due to the absence of buying catalysts.
"Nevertheless, we believe the KLCI is extremely oversold.
“Hence, we reckon bargain-hunting may set in, and [push up] the benchmark index to be slightly higher within the 1,370-1,390 range towards the weekend," he told Bernama.
Thong also noted that key regional markets were mostly lower ahead of the release of US consumer price index data, as investors were wary inflation would still be on the high side, thereby reinforcing the US Federal Reserve’s plans for more aggressive interest rate hikes.
Among the heavyweights, Malayan Banking Bhd (Maybank) eased by four sen to RM8.47, Public Bank Bhd gave up five sen to RM4.17, and Petronas Chemicals Group Bhd dropped 10 sen to RM8.45.
CIMB Group Holdings Bhd stayed flat at RM5.30, while IHH Healthcare Bhd gained six sen to RM5.60.
Of the actives, Top Glove Corp Bhd added 5.5 sen to 69 sen, MyEG Services Bhd gave up nine sen to 79 sen, and Citaglobal Bhd inched down 1.5 sen to 27 sen.
Supermax Corp Bhd rose 6.5 sen to 77.5 sen. Careplus Group Bhd too gained 6.5 sen to 31.5 sen.
On the index board, the FBM Emas Index trimmed 53.88 points to 9,798.52, the FBM 70 went down 98.22 points to 11,841.14, and the FBMT 100 Index contracted 57.03 points to 9,546.98.
The FBM Emas Shariah Index dropped 54.09 points to 9,767.54, and the FBM ACE lost 13.72 points to 4,617.65.
Sector-wise, the Financial Services Index was 60.45 points lower at 15,863.32, the Industrial Products and Services Index shaved 0.73 of a point to 168.51, and the Plantation Index slipped 16.50 points to 6,348.02.
The Energy Index trimmed 6.83 points to 667.95.
The Main Market volume widened to 1.39 billion shares worth RM1.51 billion, versus 1.11 billion shares worth RM1.37 billion on Wednesday.
Warrant turnover declined to 235.42 million units valued at RM39.46 million, against 364.45 million units valued at RM48.22 million previously.
The ACE Market volume improved to 406.04 million shares worth RM139.86 million, from 375.39 million shares worth RM140.89 million.
Consumer product and service counters accounted for 180.81 million shares traded on the Main Market, followed by industrial products and services (348.52 million), construction (34.88 million), technology (168.28 million), special purpose acquisition companies (nil), financial services (63.95 million), property (123.75 million), plantation (13.94 million), real estate investment trusts (4.71 million), closed/funds (5,000), energy (93.79 million), healthcare (276.28 million), telecommunications and media (38.37 million), transportation and logistics (26.53 million), and utilities (13.09 million).
Source: The Edge
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