Spooked by Hawkish Stand of Fed, Asian Equities Markets Dipped

Kuala Lumpur, Apr 7 –Bursa Malaysia ended marginally lower on Thursday, tracked the performance of the weaker Asian markets. Most of the major Asian equities markets slumped by 1%, with Japan’s Nikkei 225 dropped the most, by -1.69%.  The insipid and cautious, if not somewhat pessimistic mood is in line with a global selloff, as markets were alarmed by Fed’s aggressive stand about the need for quantitative tightening. The comment by Fed has just added another layer of unease to investors over the war in Ukraine, coronavirus outbreaks in China and persistent high inflation.

** The FTSE BM KLCI shed 3.93 points or  -0.24% at 1,600.79 .

** The FTSE BM KLCI opened at 1,605.51 . The index fluctuated between 1,597.95 –  1,606.13.

** 387 counters are gainers,  422 counters are unchanged, while 597 counters are losers.

** Total volume of 3,337,779,800 shares changed hands; while Turnover of RM2,539,819,330.

** The Top 5 Gainers : HEIM (23.00, +0.44) ; BKAWAN (27.00, +0.40) ; CARLSBG (22.20, +0.38) ; BJFOOD (3.93, +0.21) ; PCHEM (10.18, +0.19)

** The Top 5 Losers : NESTLE (134.10, -1.40) ; MPI (35.50, -1.20) ; PMBTECH-WA (14.80, -0.46) ; F&N (21.28, -0.34) ; PPB (16.96,-0.30)

** The Top 5 Most Active Stocks : MBSB (0.655, +0.015) ; SMTRACK (0.095, +0.015) ; TECHNAX (0.095, +0.01) ; VIZIONE (0.07, +0.01) ; MTRONIC (0.02, +0.005)

** Singapore’s Straits Times Index (STI) down16.79 points  or -0.49% to 3,406.16 ; Hong Kong’s HSI slipped 271.54 points or -1.23% at 21,808.98;  Japan’s Nikkei 225 declined 461.73 points  or -1.69% at 26,888.57; and Korea’s KOSPI dropped 39.17 points or -1.43% to 2,695.86;  Shanghai’s SSE Index slumped 46.73 points or -1.42% at 3,236.70; Australia’s All Ordinaries shed 53.50 points or -0.69% to 7,734.80

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