Asian Stocks Tumbled While KLCI Bucked Regional Trend

Kuala Lumpur, July 1 – Bursa Malaysia ended slightly higher on Friday with the FBM KLCI inched up by 0.30%. The trading volume was scrawny as investors were standing on the sidelines as the overall market sentiment remains gloomy.

Hong Kong stock market closed for the SAR Establishment Holiday on July 1, meanwhile the rest of Asian stock markets have ended in negative territory, tracking the broadly negative cues from global markets overnight. Market participants remain wary about the global economic outlook and the possibility of a recession as central bank chiefs have reaffirmed their resolve to pare inflation despite threats to economic growth. The latest print data of the contraction of US economy in the last quarter as well as the slowing consumer spending point to a slowing US economy.

** The FTSE BM KLCI up 5.52 points or +0.30% at 1,449.74

** The FTSE BM KLCI opened at 1,441.62. The index fluctuated between 1,441.62 – 1,452.32.

** 297 counters are gainers, 388 counters are unchanged, while 468 counters are losers.

** Total volume of 1,493,881,700 shares changed hands; while Turnover of RM 1,154,968,443

** The Top 5 Gainers: NESTLE (134.60, +2.00) ; SP500-H17 (0.705, +0.315) ; HARNLEN (1.37, +0.17) ; KLK (22.10, +0.16) ; KFIMA (2.66, +0.14)

** The Top 5 Losers: DIN040000223 (101.10, -0.40) ; HARTA (2.74, -0.32) ; ORIENT (6.38, -0.24) ; HEIM (22.78, -0.24) ; BKAWAN (22.88, -0.20)

** The Top 5 Most Active Stocks: TOPGLOV (1.01, -0.03) ; SAPNRG (0.045, UNCHANGED) ; PBBANK (4.42, +0.05) ; HARTA (2.74, -0.32) ; JAG (0.355, +0.005)

** Singapore’s Straits Times Index (STI) down 6.62 points or -0.21% to 3,095.59;  Japan’s Nikkei 225 dived 457.42 points or -1.73% at 25,935.62 ; Korea’s Kospi Index shed 27.22 points or -1.17% at 2,305.42 ; Shanghai’s SSE Index ceded 10.98 points or -0.32% at 3,387.64 ; Australia’s All Ordinaries index dropped 26.10 points or -0.39% at 6,720.40.

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