Investors' 'Wait & See' Sentiment Fills the Stock Market Ahead of the GE


 The local equity market remains weak especially with investors being seen to trade cautiously ahead of the 15th General Election (GE15).

At the opening, the FBM KLCI index started up 2.49 points at 1,461.51 before falling 4.55 points at 1,459.45 compared to Monday's close at 1,464.

In the broader market, losses at 145 outpaced gains at 102, while 198 counters were unchanged, 1,880 untraded and 13 suspended.

Total revenue at 117.48 million units worth RM41.36 million.

Hong Leong Investment Bank Research explained that the KLCI is forecast to moderate after rallying from a 2-year low of 1,370 ahead of GE15 and investors are expected to buy at election-themed counters today.

Heavyweight stocks saw Maybank and IHH Healthcare Bhd down 4 sen at RM8.55 and RM5.95, Public Bank Bhd down 1 sen at RM4.37, Petronas Chemicals Group Bhd down 7 sen at RM8.65 and CIMB Group Holdings Bhd lost 5 sen at RM5.44.

Active shares saw MQ Technology Bhd down 0.5 sen at 3.5 sen, SYF Resources Bhd up 1.5 sen at 34.5 sen and Top Glove Corporation Bhd added 1 sen at RM1.03 while Advance Synergy Bhd and Velesto Energy Bhd remained at 14 sen and 13.5 sen.

On the index board, the FBM Emas Shariah index fell 16.65 points at 10,503.73, the FBM Emas index contracted 25.58 points at 10,369.59, the FBMT 100 Index fell 26.22 points at 10,101.77 and the FBM 70 lost 10.92 points at 12,354.55 while the FBM ACE rose 13.8 points at 5,023.85.

In terms of sectors, the Financial Services index fell 53.93 points at 16,234.99, the Plantation index fell 1.06 points at 6,901.3, the Products and Services index dropped 0.15 points at 178.99 and the Energy index was down 5.5 points at 726.25.