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Bursa Malaysia ends at the day’s high on bargain hunting

KUALA LUMPUR: Bursa Malaysia closed steadier with the FTSE Bursa Malaysia KLCI (FBM KLCI) finishing at the day’s high of 1,655.66, up 20.35 points or 1.24%, from Tuesday’s 1,635.31.

Bargain hunting was noted throughout the day after the index was in a overbought situation following two consecutive days of losses.

After opening 0.63 of-a-point better at 1,635.94, the index touched an intra day low of 1,634.55 before rebounding thereafter, in tandem with the better showing on Wall Street and regional bourses.

On Wall Street, the Dow was higher by 0.35% to close at 23,675.64, the S&P 500 rose 0.01% to 2,546.16 and Nasdaq increased 0.45% to 6,783.91.

Closer to home, Singapore’s Straits Times Index rose 0.37% to 3,056.91, Jakarta Composite Index gained 1.55% to 6,176.09 and Hong Kong’s Hang Seng Index added 0.2% to 25,865.39.

Market breadth on Bursa Malaysia was positive with 471 gainers and 293 losers, while 389 counters remained unchanged, 751 untraded and 40 others were suspended.

Total volume decreased to 1.87 billion units, worth RM1.89 billion, from 2.26 billion units valued at RM1.90 billion on Tuesday.

Among heavyweights, Maybank rose 11 sen to RM9.33, Public Bank gained 40 sen to RM24.66, Tenaga increased 14 sen to RM12.84 but Petronas Chemicals lost two sen to RM9.13.

Of actives, Sapura Energy shed half-a-sen to 29.5 sen, Hibiscus Petroleum fell seven sen to 79 sen but Genting Malaysia jumped 23 sen to RM3.06.

The FBM Emas Index was 126.72 points higher at 11,289.80, the FBMT 100 Index gained 125.30 points to 11,205.61, the FBM 70 increased 93.97 points to 12,792.42, the FBM Emas Shariah Index was 91.08 points better at 11,159.33 and the FBM Ace Index increased 57.96 points to 4,247.07.

Sector-wise, the Financial Services Index garnered 169.15 points to 17,189.21, the Plantation Index rose 148.74 points to 6,636.65 and the Industrial Products and Services Index added 0.71 of-a-point to 164.97.

Main Market volume fell to 1.40 billion shares, worth RM1.80 billion, from Tuesday’s 1.55 billion shares worth RM1.78 billion.

Warrants turnover decreased to 283.73 million units, worth RM60.64 million, from 431.78 million units valued at RM91.67 million, transacted yesterday.

Volume on the ACE Market was lower at 185.33 million shares, worth RM24.90 million, from 272.16 million shares, valued at RM34.25 million, traded on Tuesday.

Consumer products and services accounted for 240.90 million shares traded on the Main Market, industrial products and services (249.46 million), construction (72.93 million), technology (156.05 million), SPAC (nil), financial services (24.64 million), property (71.64 million), plantations (33.15 million), REITs (14.47 million), closed/fund (7,200), energy (384.06 million), healthcare (31.73 million), telecommunication and media (36.11 million), transportation and logistics (67.19 million), and utilities (18.73 million). — Bernama


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Bursa Malaysia ends in the red tracking bearish regional bourses

KUALA LUMPUR: Bursa Malaysia ended in the red today on weaker demand as traders track the bearish sentiment in regional stock markets, amid the sharp losses on Wall Street overnight.

The FTSE Bursa Malaysia KLCI (FBM KLCI) finished 6.31 points lower at 1,635.31 from Monday’s close of 1,641.62.

After opening 13.15 points weaker at 1,628.47, the index moved between 1,626.93 and 1,643.88 throughout the day.

A dealer said growing concerns over the global growth outlook pushed US stocks sharply lower for the second consecutive day, coupled with recent gloomy data releases in China and the eurozone.

Furthermore, he said investors turned cautious ahead of the outcome of the two-day US Federal Open Market Committee meeting, starting today.

“Some bargain hunting emerged at the eleventh hour today in telecommunications and banking stocks, however, the FBM KLCI struggled to remain in the positive territory,“ he added.

On Wall Street, the S&P 500 fell 2.1% at 2,545, its lowest finish since October 9, 2017, while the Dow Jones Industrial Average also ended 2.1% lower and the Nasdaq Composite shed 2.2%.

Among regional stocks, Singapore’s Straits Times Index fell 1.9% tot 3,055.07, Jakarta Composite Index declined 0.12% to 6,081.87 and Hong Kong’s Hang Seng Index was 1.05% weaker at 25,814.25.

Market breadth on Bursa Malaysia was negative with 700 losers and 222 gainers, while 292 counters remained unchanged, 691 untraded and 24 others suspended.

Total volume increased to 2.26 billion units worth RM1.90 billion from 1.46 billion units worth RM1.17 billion on Monday.

Among heavyweights, Maybank fell eight sen to RM9.22, Public Bank gained four sen to RM24.26, Tenaga declined 22 sen to RM12.70 and Petronas Chemicals lost three sen to RM9.15.

Of actives, VS Industry shed 16.5 sen to 65.5 sen, Bumi Armada gave up half-a-sen to 15.5 sen and MYEG lost six sen to 81.5 sen.

The FBM Emas Index was 94.97 points lower at 11,163.07, the FBMT 100 Index fell 82.15 points to 11,080.31, the FBM 70 declined 249.52 points to 12,698.45, the FBM Emas Shariah Index erased 119.68 points to 11,068.25 and the FBM Ace Index dipped 73.76 points to 4,189.11.

Sector-wise, the Financial Services Index gave up 99.72 points to 17,020.06, the Plantation Index decreased 71.19 points to 6,487.91 and the Industrial Products and Services Index eased 1.18 points to 164.26.

Main Market volume rose to 1.55 billion shares worth RM1.78 billion from 1.01 billion shares worth RM1.09 billion on Monday.

Warrants turnover increased to 431.78 million units worth RM91.67 million from 256.86 million units worth RM56.88 million previously.

Volume on the ACE Market was higher at 272.16 million shares worth RM34.25 million from 198.75 million shares worth RM30.02 million.

Consumer products and services accounted for 152.11 million shares traded on the Main Market, industrial products and services (390.76 million), construction (72.60 million), technology (194.33 million), SPAC (7.05 million), financial services (34.93 million), property (94.71 million), plantations (27.93 million), REITs (11.09 million), closed/fund (nil), energy (405.48 million), healthcare (41.94 million), telecommunication and media (30.90 million), transportation and logistics (70.35 million), and utilities (25.55 million).— Bernama


Bursa extends losses amid US rout; TNB, IHH lead declines

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KUALA LUMPUR: A broad selloff in global equities continued on Tuesday as Wall Street plunged for a second straight session amid evidence of slowing economic growth, sending investors to the sidelines. Rattling hopes of a  December boost to retailers, UK online clothing retailer Asos issued a profit warning overnight, triggering a selldown in US consumer discretionary stocks. At 12.30pm, the FBM KLCI dropped 7.52 points to 1,628.47. Turnover was 1.27 billion shares valued at RM772.82mil. The stock exchange experienced a broad-based selloff with 642 decliners versus 145 gainers and 237Read More


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