Exchange Sentiment Weakened Despite Global Markets Rising

thecekodok

 At 9.10am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 7 points at 1,514.86 from Monday's close of 1,521.86.


The index opened 4.77 points at 1,517.09.


It opened weaker following a sell -off in several large -cap stocks that caused the benchmark index to fall even as the Wall Street market posted gains.


On the broader market, investors saw losers outnumber gainers by 205 to 124, while 244 counters were unchanged, 1,707 untraded and 30 suspended.


Total turnover at 222.58 million units worth RM119.76 million.


A note issued by Malacca Securities Sdn Bhd stated the bounce on Wall Street had expected ‘bargain hunters’ activity to emerge on the local bourse especially in the technology sector.



He added that they believed investors would buy in the fall ahead of the earnings reporting season in February besides expecting investors to also keep an eye on consumer stocks and construction materials following the recent economic recovery.


Heavyweights saw Malayan Banking Bhd (Maybank), Petronas Chemicals Group Bhd (Petchem) and CIMB Group Holdings fall 5 sen at RM8.20, RM8.85 and RM5.20, Public Bank Bhd down 1 sen at RM4.18, IHH Healthcare Bhd declined 11 sen to RM6.36 and Tenaga Nasional Bhd (TNB) remained at RM9.11.


Active stocks saw Senheng New Retail Bhd down 12 sen at 95 sen, Metronic Global Bhd remained 2 sen and G3 Global Bhd added 1 sen at 8 sen.


Leading the list of losses was Complete Logistics Services Bhd down 24 sen at 3.72 then Senheng and IHH Healthcare.


On the index board, FBM ACE bloomed 6.41 points at 6,109.39 and FBM 70 rose 5.76 points at 13,411 while FBM Emas fell 36.43 points at 10,881.07, FBMT 100 declined 36.93 points at 10,588.11 and FBM Emas Shariah plunged 29.36 points at 11,597.56.


The Financial Services Index declined 59.55 points at 15,641.31, the Products and Services Industry index declined 0.73 points at 199.78 and the Malay Plantation index 29.78 points at 6,696.85.

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