Most Asian Equities Markets Shrouded by Stagflation Fear; Downbeat Yen After BoJ Decision

Kuala Lumpur, June 17 – Bursa Malaysia ended in red on Friday with the barometer index, FBM KLCI slumped approximately 1.1%. Trading volume, however, increased. Market breadth was dominated with negative mood as the losers outpaced gainers. The gainers of yesterday’s closing became the losers of today’s closing, with Nestle leading the pack. The performance of the local bourse was in line with the overnight performance of Wall Street with the DJIA dived 2.42%. IN the Asian region, Japan’s Nikkei 225 continued to slip, and extended its losing streak to close below the 26,000-point level. The Bank of Japan (BOJ) was reported to leave monetary policy unchanged despite the inflation fears and Japanese Yen sank. Australia’s All Ordinaries down by 1.77%, as market participants brace for aggressive rate hikes from the Reserve Bank of Australia.

Interestingly, HSI reversed its earlier loss of the trading day and ended up at 21,000 point level. The top performer of day was JD.com which is rumoured to undergo a new round of organizational restructuring i.e. Jingxi Business Group under JD Retail will be broken up within this month. The education-related stocks listed in HKEX continued to soar. Bears continue to rein-in in Singapore, Korea as investors are on risk-off mood.

** The FTSE BM KLCI shed 16.03 points or -1.09% at 1,456.74.

** The FTSE BM KLCI opened at 1,460.64. The index fluctuated between 1,445.64– 1,461.03.

** 267 counters are gainers, 344 counters are unchanged, while 726 counters are losers.

** Total volume of 3,056,888,900 shares changed hands; while Turnover of RM 3,018,920,716

** The Top 5 Gainers: SAM (3.99, +0.24) ; GAMUDA (3.60, +0.20) ; JDCOM-C8 (0.38, +0.20) ; D&O (4.04, 0.17) ; HLBANK (21.00,+0.16)

** The Top 5 Losers: NESTLE (131.20, -8.80) ; PETDAG (19.82, -1.32) ; AEONCR (13.36, -1.00) ; KLK (23.40, -0.64) ; PETGAS (16.04, -0.54)

** The Top 5 Most Active Stocks: SAPNRG (0.045, -0.005) ; DNEX (0.81, -0.03) ; HIBISCS (1.08, -0.09) ; HSI-HA8 (0.275, -0.10) ; TOPGLOV (1.01, +0.035)

** Singapore’s Straits Times Index (STI) down 3.73 points or -0.12% to 3,093.70; Hong Kong’s HSI advanced 239.69 points or +1.15% at 21,085.12 ;  Japan’s Nikkei 225 dived 468.20 points or -1.77% at 25,963.00 ; Korea’s Kospi Index down 10.48 points or -0.43% at 2,440.93 ; Shanghai’s SSE Index climbed 31.40 points or +0.96% at 3,316.79 ; Australia’s All Ordinaries index ceded 120.40 points or -1.77% at 6,663.30.

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