Asian Stocks Slumped Over Dimmed Economic Growth

Kuala Lumpur, June 13 – Bursa Malaysia closed in red on Monday, the bell-weathered FBM KLCI index slumped 1.95% in line with the performance of regional markets as well as that of the global equities markets. Asian stock markets nosedived as the inflation figure released on last Friday in US showed it hit a 40-year peak, as red-hot inflationary figure does trigger the fears and concerns of investors as the probability of hawkish stance taken by the Feb is higher. Japan’s benchmark Nikkei 225 index, Hong Kong’s HSI and Kospi index of South Korea ended 3% lower. The Australian stock market was closed for the Queen’s birthday public holiday. A warning about Covid infections in Beijing also paints a gloomy prospects of global economic growth. Meanwhile, the US dollar strengthened to 135 Japanese yen for the first time in over two decades.

** The FTSE BM KLCI ceded 29.12 points or -1.95 % at 1,464.83.

** The FTSE BM KLCI opened at 1,483.76. The index fluctuated between 1,458.85– 1,483.76.

** 138 counters are gainers, 253 counters are unchanged, while 1,084 counters are losers.

** Total volume of 3,265,158,400 shares changed hands; while Turnover of RM2,264,639,664

** The Top 5 Gainers : SP500-H13 (2.96, +0.59) ; SP500-H11 (1.48, +0.35) ; HSI-HEJ (1.33, +0.28) ; SP500-H15 (1.16, +0.28) ; HSI-HB6 (0.95, +0.235)

** The Top 5 Losers : MPI (30.32, -1,.62) ; BKAWAN (25.20, -1.30) ; KLK (24.20, -0.70) ; F&N (19.72, -0.78) ; HLFG (18.42, -0.78)

** The Top 5 Most Active Stocks: FINTEC (0.01, -0.005) ; BCMALL (0.025, UNCHANGED) ; SAPNRG (0.05, UNCHANGED) ; TOPGLOV (1.03, -0.10) ; HSi-HA8 (0.38, +0.16)

** Singapore’s Straits Times Index (STI) dropped 41.54 points or -1.31% to 3,140.19 ; Hong Kong’s HSI slumped 738.60 points or -3.39% at 21,067.58 ;  Japan’s Nikkei 225 dived 836.85 points or -3.01% at 26,987.44 ; Korea’s Kospi Index dipped 91.36 points or -3.52% at 2,504.51 ; Shanghai’s SSE Index shed 29.28 points or -0.89% at 3,255.55 ; Australia’s stock market is closed today.

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