Asian Equities Slumped as Powell Backs Aggressive Hike

Kuala Lumpur, Apr 22 –Supported by defensive plays and some heavyweights, Bursa Malaysia’s FBMKLCI closed slightly higher on Friday. However, trading volume was lacklustre with negative market breadth i.e. losers outnumbered gainers. Most equities markets in Asia Pacific region dipped in to the negative territory on Friday, tracking weak performance of Wall Street and a spike in U.S. Treasury yields after Fed’s Chairman has signalled aggressive monetary policy to tame broadening inflationary pressure by stating that “half-point interest rate increase will be “on the table” when the Fed meets in May”.

** the FTSE BM KLCI rose 3.65 points or +0.23% at 1,601.97.

** The FTSE BM KLCI opened at 1,598.07 . The index fluctuated between 1,694.72 –  1,603.32.

** 385 counters are gainers,  418 counters are unchanged, while 538 counters are losers.

** Total volume of 2,641,373,200 recorded; while Turnover of RM2,055,533,963.

** The Top 5 Gainers : NESTLE (133.70, +0.90) ; HLFG (19.60, +0.36) ; BKAWAN (27.80,+0.32) ; HLBANK (21.00, 0.30) ; HSI-HEM (0.505, +0.245)

** The Top 5 Losers : FANG-2XL (8.90, -0.96) ; MPI (31.82, -0.68) ; MSC (5.14, -0.29) ; KLK (28.00, -0.20) ; SP500-CZ (0.78, -0.215)

** The Top 5 Most Active Stocks : TECHNAX (0.105, UNCHANGED) ; TWL (0.09, UNCHANGED) ; TAWIN (0.155, -0.005) ; MNC (0.025, -0.005); VIZIONE (0.105, UNCHANGED)

** Singapore’s Straits Times Index (STI) rose 12.65 points  or  +0.38% to 3,361.11 ; Hong Kong’s HSI shed 43.70 points or -0.21% at 20,638.52;  Japan’s Nikkei 225 dropped 447.80 points  or -1.63% at 27,105.26; and Korea’s KOSPI down 23.50 points or -0.86% to 2,704.71;  Shanghai’s SSE Index rose 7.11 points or 0.23% at 3,086.92; Australia’s All Ordinaries dipped 118.90 points or -1.51% to 7,768.20

Previous articleSunsuria To Acquire Land in Ijok For RM74 Million For Property Investment And Development
Next articleWinners of ‘Protect & Win Campaign’ Announced by Agrobank

LEAVE A REPLY

Please enter your comment!
Please enter your name here