Asian Stocks in Red Amid Aggressive Interest Rate Fears

Kuala Lumpur, Apr 11 –Bursa Malaysia ended lower on Monday tracked the losses of the regional markets. Market breadth remained negative with losers outnumbers gainers. The last trading hour reversed the positive trend of the KLCI and erased the gains recorded earlier in the day. Strong profit-taking took place at 1,600 psychological level. Most of the major equities markets in the Asia Pacific region slipped. Investors’ concerns about inflation and monetary tightening continue with bonds are seen in a selloff. The Fed indicated its intention of aggressive monetary policy to cool U.S. inflation.

** The FTSE BM KLCI down 2.68 points or  -0.17% at 1,604.61 .

** The FTSE BM KLCI opened at 1,607.95 . The index fluctuated between 1,603.22 – 1,613.46.

** 317 counters are gainers,  356 counters are unchanged, while 774 counters are losers.

** Total volume of 4,402,150,600 shares changed hands; while Turnover of RM2,369,862,996.

** The Top 5 Gainers : F&N (22.18, +0.66) ; TAANN (5.98, +0.39) ; DLADY (33.38, +0.38) ; HSI-HA3 (1.73, +0.36) ; SOP (6.04, +0.33)

** The Top 5 Losers : MPI (33.08, -2.20) ; PMBTECH-WA (15.00, -0.78) ; VITROX (7.50, -0.60) ; PMBTECH (18.42, -0.58) ; BKAWAN (26.40, -0.52)

** The Top 5 Most Active Stocks : VIZIONE (0.08, +0.005) ; VSOLAR (0.01, -0.005) ; TECHNAX (0.095, UNCHANGED) ; TANCO (0.395, -0.085) ; MNC (0.03, UNCHANGED)

** Singapore’s Straits Times Index (STI) down 18.20 points  or  -0.54% to 3,365.05 ; Hong Kong’s HSI Index bled 663.71 points or -3.03% at 21,208.30;  Japan’s Nikkei 225 declined 164.28 points  or -0.61% at 26,821.52; and Korea’s KOSPI dropped 7.29 points or -0.27% to 2,693.13;  Shanghai’s SSE Index shed 84.72 points or -2.61% at 3,167.13 ; Australia’s All Ordinaries up 1.20 points or 0.015% to 7,773.20

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