Asian Stocks Closed Mixed as Fed confirms Rate Hikes

Kuala Lumpur, May 26 – The FBM KLCI ended in positive territory today propping up by the bargain-hunting on the heavyweights and defensive on Thursday. Meanwhile, Asian equities markets closed mixed as notes from the Fed’s latest meeting confirmed expectations for more rate hikes although it would not bring surprises to rattle investors. Board members of the Fed support 0.5-percentage-point hikes at their next two meetings. While the rate hike will weigh on economic activity but already was factored into stock prices. Stock markets in Shanghai and Seoul closed higher while Hong Kong and Australia went southwards.

** The FTSE BM KLCI climbed 5,59 points or +0.36% at 1,541.15 .

** The FTSE BM KLCI opened at 1,539.72 . The index fluctuated between 1,535.89 – 1,541.75 .

** 406 counters are gainers,  364 counters are unchanged, while 557 counters are losers.

** Total volume of 2,893,746,600 shares changed hands; while Turnover of RM1,972,156,107.

** The Top 5 Gainers : MPI (31.10, +1.08) ; F&N (20.70, +0.50) ; NESTLE (134.40, +0.50) ; PPB (17.26, +0.40) ; HEIM (25.12, +0.38)

** The Top 5 Losers : GENP (7.75, -0.43) ; DLADY (33.50, -0.28) ; MISC (7.37, -0.28) ; HLCAP (5.86, -0.23) ; BAT (12.66, -0.22)

** The Top 5 Most Active Stocks :SERBADK (0.115, +0.015) ; SAPNRG (0.075, -0.01) ; CYPARK (0.395, +0.015) ; CNERGEN (0.675, +0.105) ; MNC (0.02, +0.005)

** Singapore’s Straits Times Index (STI) advanced 29.60 points  or  +0.93% to 3,209.18 ; Hong Kong’s HSI shed 55.07 points or -0.27% at 20,116.20 ;  Japan’s Nikkei 225 climbed 72.96 points  or +0.27% at 26,604.84 ; and Korea’s KOSPI down 4.77 points or -0.18% to 2,612.45 ;  Shanghai’s SSE Index rose 15.64 points or +0.50% at 3,123.11 ; Australia’s All Ordinaries down 52.40 points or -0.71% to 7,339.30.

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