Asian Stocks Closed Mixed with Stagflation Fears Weigh on Sentiment

Kuala Lumpur, June 20 – Bursa Malaysia ended lower by 1% on Monday. While most of stock markets in the Asia-Pacific closed in negative territory as market participants are in fear of economic slowdown and faster/heavier rate hikes amid a sluggish start to the week, after a super volatile one. In contrast, stock markets in China i.e both Hong Kong and Shanghai appeared to be cautiously optimistic as the key data/events loom.

** The FTSE BM KLCI shed 15.50 points or -1.06% at 1,441.24.

** The FTSE BM KLCI opened at 1,454.40. The index fluctuated between 1,437.23– 1,454.40.

** 200 counters are gainers, 351 counters are unchanged, while 747 counters are losers.

** Total volume of 2,622,905,300 shares changed hands; while Turnover of RM1,691,377,501

** The Top 5 Gainers: NESTLE (131.60, +0.40) ; SFPTECH (0.67, +0.37) ; F&N (19.90, +0.20) ; AMWAY (5.20, +0.18) ; METFUS50 (1.82, +0.12)

** The Top 5 Losers: MPI (28.52, -0.98) ; BKAWAN (22.70, -0.52) ; DLADY (32.32, -0.46) ; PETRONM (5.45, -0.43) ; HENGYUAN (4.34, -0.41)

** The Top 5 Most Active Stocks: SFPTECH (0.67, +0.37) ; DNEX (0.765, -0.045) ; CYPARK (0.37, +0.03) ; SAPNRG (0.4, -0.005) ; MNC(0.015, UNCHANGED)

** Singapore’s Straits Times Index (STI) down 1.69 points or -0.05% to 3,096.40; Hong Kong’s HSI rose 88.91 points or +0.42% at 21,163.01 ;  Japan’s Nikkei 225 ceded 191.78 points or -0.74% at 25,771.22 ; Korea’s Kospi Index down 49.90 points or -2.40% at 2,391.03 ; Shanghai’s SSE Index down 1.36points or -0.04% at 3,315.43 ; Australia’s All Ordinaries index shed 53.80 points or -0.81% at 6,609.05.

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