Local Investors Are Unspeakable Because of the FOMC


 Stocks' weak opening into the weekend was due to subdued buying sentiment following a 75 basis point interest rate hike in the United States.

At the opening, the FBM KLCI index started 3.29 points at 1,448.32 before falling 4.96 points at 1,446.65 compared to Wednesday's close at 1,451.61.

In the broader market, losses at 209 outpaced gains at 77, while 215 counters were unchanged, 1,824 untraded and 9 suspended.

Total turnover at 177.37 million units worth RM47.95 million.

Comment on Rakuten Trade Sdn Bhd, the rebound at the support level of 1,450 at the close of Wednesday due to purchases at the plantation and telecommunication counters failed to be maintained.

That factor is likely to happen with investors looking forward to the Bank Negara Malaysia interest rate reading today and the index is expected to hover at 1,440-1,460.

Heavyweight stocks saw Maybank, Digi.Com Bhd and IOI Corp Bhd flat at RM8.54, RM3.81 and RM3.99 while Public Bank Bhd and Maxis Bhd fell 2 sen at RM4.43 and RM3.84 while CIMB Group Holdings Bhd up 1 sen at RM5.50.

Active stocks saw Ta Win Holdings Bhd, Dolphin International Bhd and Bina Puri Holdings Bhd down 0.5 sen at 8.5 sen and 2.5 while Advance Synergy Bhd at 7 sen and Citaglobal Bhd at 27.5 sen.

On the index board, the FBM Emas index fell 34.64 points at 10,262.80, the FBM 70 dropped 41.63 points at 12,159.22, the FBMT 100 index lost 34.29 points at 9,996.56, the FBM Emas Shariah index fell 47.07 points at 10,320.60 and the FBM ACE plunged 40.06 points at 4,913.

In terms of sectors, the Financial Services index fell 1.39 points at 16,324.70, the Products and Services index dropped 0.87 points at 173.95, the Plantation index fell 50.44 points at 6,786.25 and the Energy index added 0.34 points at 710.67.