Kuala Lumpur, May 10 – FBM KLCI closed slightly higher, supported by selective heavyweights. KL and Shanghai stock markets are the two closed in positive territory amidst turbulent regional stock market performance. Market is expected to whipsaw at the psychological support level of 1550. Overall the equities markets in the Asia Pacific bathed in red as the risk-on market sentiment is hanging on, with investors replacing riskier assets with safer bets, due to the worries about higher interest rates and their impact on economic growth. Some analysts give the view that while the Fed cannot control the supply side of the economy in the short-run, so as long as key indicators like the labour force participation rate stay low and Chinese exports slow, the risk to inflation, and therefore interest rates, lies to the upside.
** the FTSE BM KLCI climbed 5.40 points or 0.35 % at 1,554.58 .
** The FTSE BM KLCI opened at 1,551.55. The index fluctuated between 1,548.73 – 1,559.04.
** 331 counters are gainers, 444 counters are unchanged, while 640 counters are losers.
** Total volume of 2,752,675,500 shares changed hands ; while Turnover of RM2,258,334,295 .
** The Top 5 Gainers : NESTLE (131.90, +0.50) ; PPB (16.66, +0.28) ; FANG-2XL (1.84, +0.27) ; HSI-HA3 (2.63, +0.25) ; BYD-H4 (0.77, +0.245)
** The Top 5 Losers : PMBTECH-LA (16.50, -1.90) ; MPI (29.30, -0.90) ; KLK (26.80, -0.50) ; FANG-2XL (7.42, -0.36) ; MSC (3.89, -0.36)
** The Top 5 Most Active Stocks : SERBADK (0.075, -0.035) ; AGES-OR (0.005, UNCHANGED) ; DNEX (1.00, UNCHANGED) ; HIBISCS (1.35, -0.02) ; TAWIN (0.135, +0.005)
** Singapore’s Straits Times Index (STI) dropped 37.63 points or -1.15% to 3,237.44 ; Hong Kong’s HSI shed 368.27 points or -1.84% at 19,633.60; Japan’s Nikkei 225 declined 152.24 points or -0.58% at 26,167.10; and Korea’s KOSPI dropped 14.25 points or -0.55% to 2,596.56; Shanghai’s SSE Index rose 31.70 points or 1.06% at 3,035.84; Australia’s All Ordinaries down 72.70 points or -0.99% to 7,285.20
