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March 23, 2021

Disappointing Exchange, Investors ‘Clap Forehead’ Today

 Bursa Malaysia opened lower today due to sluggish market conditions due to a lack of buying catalysts and large inflows of foreign funds.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.51 points to 1,614.22 after closing at a daily low of 1,616.73 yesterday.

Bernama reported that the key indicator index rose 0.05 points at 1,616.78 at 9am and declined 30 seconds after the trading session opened.

In the broader market, losers outnumbered gainers by 228 to 207, while 310 counters were unchanged, 1,465 untraded and 11 others suspended.

Turnover stood at 309.59 million shares worth RM146.57 million.

According to Rakuten Trade, the FBM KLCI is seen to tend to rise higher and test the 1,620 point level today amid the volatile regional market situation.

The research firm also felt the regional market was likely to perform poorly today.

However, as of this writing, Japan’s Nikkei 225 is up 0.52% to 29,324.71; Hong Kong’s Hang Seng was unchanged at 28,885.34; The Singapore Straits Times was 0.62% higher at 3,147.45, and the Korean Kospi rose 0.05% to 3,037.11.

Among heavyweights, Maybank declined two sen to RM8.31, Tenaga rose six sen to RM10.82, PBBank added one sen to RM4.23, while PChem, IHH, CIMB and Topglove were flat at RM8.20, RM5. 31, RM4.50 and RM5.14 respectively.

For active counters, G3 rose three sen to 24 sen, Widad rose four sen to 47.5 sen, while DataPRP declined 42 sen to RM1.33 and Hubline was flat at 4.5 sen.

On the index board, the FBM Emas Index declined 5.13 points to 11,855.81, the FBMT 100 declined 11.47 points to 11,527.75 and the FBM Emas Shariah declined 12.78 points to 13,158.64.

FBM 70 added 9.36 points to 15,634.38 and FBM ACE rose 39.05 points to 10,691.71.

In terms of sector, the Financial Services Index rose 17.56 points to 15,443.99, the Plantation Index rose 3.69 points to 7,154.09 while the Industrial Products and Services Index rose 0.74 points to 193.82.