Local Investors Are Also Ready For FOMC Turbulence


 Taking Wall Street's weak signal overnight, the local stock market also moved weakly with the possibility of a recession in the United States (US).

At the opening, the FBM KLCI index started 0.09 points at 1,471.46 before falling 3.21 points at 1,468.34 compared to Tuesday's close at 1,471.55.

In the broader market, losses at 313 outpaced gains at 162, while 303 counters were unchanged, 1,477 untraded and 10 suspended.

Total revenue at 416.46 million units worth RM184.16 million.

Comment on Rakuten Trade Sdn Bhd, Bursa Malaysia is seen to have reached the maturity level to bounce back after a 30-point drop over the past 3 days while positive news in China should give an advantage.

As a result, the KLCI is expected to hover between levels of 1,470 to 1,490.

Heavyweight stocks saw CIMB Group Holdings Bhd and Tenaga Nasional Bhd (TNB) up 3 sen at RM5.60 and RM9.21 while Maybank and Public Bank Bhd fell 2 sen at RM8.59 and RM4.43, Petronas Chemicals Group Bhd and IHH Healthcare Bhd fell 1 sen at RM8.55 and RM5.81.

Active shares showed Solution Group Bhd up 2.5 sen at 34.5 sen, Infomina Bhd added 4 sen at RM1.11, BCM Alliance Bhd jumped 0.5 sen at 2.5 sen, Borneo Oil Bhd remained at 2 sen, Dataprep Holdings Bhd and ECA Integrated Solution Bhd fell. 1.5 sen at 29.5 sen and 87.5 sen.

On the index board, the FBM Emas index fell 21.24 points at 10,561.76, the FBMT 100 index lost 17.34 points at 10,258.60, the FBM Emas Shariah index dropped 28.07 points at 10,739.61, the FBM 70 lost 1.63 points at 12,929.14 and the FBM ACE fell 11.83 points at 5,487.66.

In terms of sectors, the Plantation index rose 2.70 points at 6,727.73, the Financial Services index fell 20.12 points at 16,419.30, the Products and Services index fell 0.97 points at 181.80 and the Energy index fell 10.21 points at 795.61.