KLCI Amidst Profit-Taking Whilst Asian Equities Lifted by Tech, Eyes on Monetary Tightening

Kuala Lumpur, Mar 29 – The KLCI extended another day of profit-taking amidst thin-trading volume, and ended in negative territory on Tuesday. Market breadth remains negative as losers outnumbered gainers. The bell-weathered index was dragged by heavyweights. While most of the major equities markets in the Asia-Pacific region closed higher, riding on the positive cues from Wall Street overnight, lifted by tech and financial stocks. The decline in crude oil prices may also provide catalysts for some positive performance as well as hopes about a peace deal between Russia – Ukraine. But overall investors remain cautious with the news about a surge in coronavirus in China, which weighed on the sentiment with Shanghai’s decision to impose fresh lockdown measures and imminent monetary tightening by the Fed.

** The FTSE BM KLCI shed 14.53 points or -0.91% at 1,583.42 .

** The FTSE BM KLCI opened at 1,597.93 . The index fluctuated between 1,579.27 –  1,598.21.

** 358 counters are gainers,  426 counters are unchanged, while 550 counters are losers.

** Total volume of 2,610,002,200 shares changed hands; while Turnover of RM1,971,300,497 .

** The Top 5 Gainers : FANG-2XL 12.54, +0.54 ; PANAMY 28.40,+0.38 ; HEIM 22.50, +0.30 ; KESM 8.78, +0.28 ; DLADY 32.40, +0.20

** The Top 5 Losers : MPI (36.40, -1.08) ; NESTLE (135.00, -1.00) ; PETDAG (20.70, -0.66) ; F&N (20.86, -0.44) ; YINSON (4.49, -0.36)

** The Top 5 Most Active Stocks : SAPNRG (0.04, +0.005) ; CSH (0.15, +0.005) ; BSLCORP (0.17, -0.015) ; SMTRACK (0.08, -0.005) ; PASUKGB (0.02, -0.005)

** Singapore’s Straits Times Index (STI) up dropped 6.99 points  or  -0.2% to 3,425.00 ; Hong Kong’s HSI Index rose 242.66 points or +1.12% at 21,927.63;  Japan’s Nikkei 225 increased surged 308.53 points or +1.10% at 28,252.42; and Korea’s KOSPI climbed 11.51 points or 0.42% to 2,742.07;  Shanghai’s SSE Index shed 10.56 points or -0.33% at 3,203.94; Australia’s All Ordinaries crept up 57.70 points or 0.75% to 7,747.00

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