Kuala Lumpur, June 14 – Bursa Malaysia edged up at the Tuesday’s closing. The FBM KLCI soared 1.12%, bucked the trend of the major stock markets in Asia. Bargain-hunting on the defensive stocks and heavyweights helped lifted the KLCI. Meanwhile, Asian shares fell across the board after the overnight performance of Wall Street with Dow Jones dived for almost 2.8%. Benchmark indices fell in Japan, Australia, South Korea and Singapore, with All Ordinaries Index fell almost 3.7%, now dipping below 7,000-point, leading the pack on the loss. While Nikkei 225 dropped below 27,000 point level. Hong Kong’s HSI reversed the loss of the morning session, and managed to maintain the index at 21,000 point level. At the center of the selloff was the red-hot inflationary pressure experienced in the U.S. with the Federal Reserve scrambling to get the beast of inflation under control.
Speculation is rife that the Fed may hike up its key rate by three-quarters of a percentage point. This method of raising interest rates is seen as a blunt tool that could slow the economy and risk a recession if used too aggressively.
** The FTSE BM KLCI inched up 16.45 points or +1.12 % at 1,481.28.
** The FTSE BM KLCI opened at 1,457.86. The index fluctuated between 1,451.18– 1,481.72.
** 482 counters are gainers, 422 counters are unchanged, while 483 counters are losers.
** Total volume of 2,723,543,800 shares changed hands; while Turnover of RM 2,113,971,342
** The Top 5 Gainers : NESTLE (135.40, +3.40) ; SP500-HZ (1.86, +0.71) ; CARLSBG (22.78, +0.60) ; PETDAG (21.06, +0.54) ; KLK (24.70, +0.50)
** The Top 5 Losers : FANG-2XL (6.48, -0.98) ; BKAWAN (24.64, -0.56) ; MPI (29.84, -0.48) ; DJIA-C3 (0.44, -0.25) ; QUALITY (1.21, -0.18)
** The Top 5 Most Active Stocks: UNITRAD (0.30, -0.02) ; DNEX (0.91, +0.005) ; TOPGLOV (1.03, UNCHANGED) ; YONGTAI (0.09, +0.005 ) ; YEW LEE (0.295, UNCHANGED)
** Singapore’s Straits Times Index (STI) shed 28.51 points or -0.91 % to 3,110.84 ; Hong Kong’s HSI up 0.41 points or +0.002% at 21,067.99 ; Japan’s Nikkei 225 dived 357.58 points or -1.32% at 26,629.86 ; Korea’s Kospi Index down 11.54 points or -0.64% at 2,492.97 ; Shanghai’s SSE Index climbed 33.36 points or +1.02% at 3,288.91 ; Australia’s All Ordinaries index dived 264 points or -3.69% at 6881.20.
