Stocks Drop After Failed to Show Brilliant Performances

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 At 9am the FTSE Bursa Malaysia KLCI level marker (FBM KLCI) was down 0.14 points at 1,583.08 from Wednesday's close at 1,583.22.


The index opened firm 1.95 points at 1,585.17.


It opened high then retreated after tracking Wall Street's weak performance as market sentiment remains undecided about the Russia-Ukraine crisis.


In the broad market, traders saw losing counters outperform gains by 156 to 110, while 233 counters were also unchanged, 1,777 not traded and 73 hanged.


The total acquisition of 127.64 million units is worth RM52.42 million.



Naib President of equity investigator Rakuten Trade Sdn Bhd, Thong Pak Leng said market sentiment remains cautious following a shortage of buyers despite continued net inflows from foreign funds of RM6.3 billion so far.


In addition, they expect the index to be at the level of 1.580-1.590 today during the period of continuous pooling by foreign funds.


The fair share saw Malayan Banking Bhd (Maybank) up 2 cents at RM8.90, Petronas Chemicals Group Bhd adding 1 cent at RM9.57 and Public Bank Bhd staying at RM4.65 while CIMB Group Holdings Bhd lost 3 cents at RM5.30 and IHH Healthcare Bhd fell 4 cents at RM6.12.


Active stocks saw Sapura Energy Bhd and Mieco Chipboard Bhd stay at 4 cents and 62.5 cents while Capital A Bhd, Yong Tai Bhd and TWL Holdings Bhd were up 0.5 cents at 75.5 cents, 11.5 cents and 7 cents.


On the index board, the FBM 70 was up 6.17 points at 13,745.10 and the FBMT 100 index added 0.45 points at 11,022.95 while the FBM Gold index was down 1 point at 11,336.40, the FBM Gold Shariah index was down 5.15 points at 11,894.13 and the FBM ACE was down 7.25 points at 5,594.22.


Sector wise, the Services and Products Industry index was down 0.09 points at 203.91 while the Agriculture index cut 11.64 points at 7,949.83 while the Financial Services index increased 23.02 points at 16,717.66.

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