KLCI Down 1% Dragged by Heavyweights; Asian Stocks Closed Mixed

Kuala Lumpur, May 5 –Bursa Malaysia closed broadly lower on Thursday after Labour Day and Eid Fitri holidays. The KLCI opened 13.91 points higher at 1,614.34 but down 1%, dragged by heavyweights. Korean and Japanese stock markets were closed for holidays. The Federal Reserve’s 50-basis point hike was in line with expectations, hence removing some investor concerns about a more aggressive move. Both SGX’s STI and HKEX’s HSI traded higher in the first session of the trading day, but down at the second session. Meanwhile, ASX’s All Ordinaries closed higher tracking the overnight performance of Wall Street. The 5% rise in oil prices overnight is a headwind for energy-dependent Asia; in addition to that, China’s COVID-zero policy could be a powerful headwind to the region, much of which has a strong correlation to China’s economic performance. The unscheduled rate hike by India yesterday could be a warning sign to other nations.

** The FTSE BM KLCI shed 17.45 points or  -1.09% at 1,582.98 .

** The FTSE BM KLCI opened at 1,614.34 . The index fluctuated between 1,576.84 –  1,615.17.

** 380 counters are gainers,  421 counters are unchanged, while 628 counters are losers.

** Total volume of 2,682,129,100 recorded; while Turnover of RM2,378,826,096 .

** The Top 5 Gainers : FANG-2XL (9.00, +1.16) ; HENNGYUAN (6.53, +0.72) ; PETRONM (5.98, +0.48) ; CARLSBG (22.44, +0.30) ; OMH (2.92, +0.17)

** The Top 5 Losers : NESTLE (131.20, -2.00) ; MPI (30.82, -0.88) ; F&N (22.20, -0.80) ; KLK (28.90, -0.56) ; UTDPLT (15.26, -0.44)

** The Top 5 Most Active Stocks : PUC (0.06, -0.015) ; TAWIN (0.135, -0.015) ; PERMAJU (0.095, UNCHANGED) ; MNHLDG (0.22, -0.025) ; SEDANIA (0.47, +0.11)

** Singapore’s Straits Times Index (STI) shed 6.06 points or -0.18% to 3,343.21 ; Hong Kong’s HSI dropped 76.12 points or -0.36% at 20,793.40;  Shanghai’s SSE Index rose 20.70 points or 0.68% at 3,067.76; Australia’s All Ordinaries up 74.40 points or 0.98% to 7,639.20.

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