Kuala Lumpur, July 6 – Bursa Malaysia ended broadly lower Wednesday with the KLCI dipped in red, ceded 19.96 points. Bank Negara Malaysia has decided to increase the overnight policy rate (OPR) by 25 basis points (bps) to 2.25% today at the conclusion of its Monetary Policy Committee (MPC). According to the central bank’s statement, the ceiling and floor rates of the OPR’s corridor are correspondingly increased to 2.5% and 2.0% respectively. Meanwhile, stock markets in the Asian region closed in red as recession fears deepen. Hong Kong and Shanghai stock markets have performed rather poorly today as the selling pressure on Chinese blue chips was heavy. Both HSI and SSE Index were dragged by worries about new COVID-19 cases in Shanghai risking fresh restrictions. The statement from the Bank of England which highlights heightened fears of a global recession with the volatile oil and raw-material prices may bring economic shocks in the future brought an intense sell-off in the risk-sensitive assets
** The FTSE BM KLCI shed 19.96 points or -1.39% at 1,420.85.
** The FTSE BM KLCI opened at 1,442.57. The index fluctuated between 1,419.50– 1,448.09.
** 208 counters are gainers, 388 counters are unchanged, while 717 counters are losers.
** Total volume of 2,161,198,700 shares changed hands; while Turnover of RM 1,634,321,651
** The Top 5 Gainers: DSR (1.31, +1.01) ; BLDPLNT (9.00, +0.42) ; MPI (27.88, +0.36) ; CARLSBG (22.16, +0.16) ; BAT (10.68, +0.16)
** The Top 5 Losers: NESTLE (132.10, -2.00) ; KLK (20.02, -1.48) ; BKAWAN (21.98, -0.82) ; PETRONM (4.77, -0.71) ; PPB (15.28, -0.54)
** The Top 5 Most Active Stocks: VELESTO (0.09, -0.01) ; HIBISCS (0.925, -0.075) ; SAPNRG (0.045, UNCHANGED) ; YONGTAI (0.085, UNCHANGED) ; HSI-HB5 (0.15, +0.01)
** Singapore’s Straits Times Index (STI) dropped 2.07 points or -0.07% to 3,102.04 ; Hong Kong’s HSI slid 266.41 points or -1.22% at 21,586.66 ; Japan’s Nikkei 225 ceded 315.82 points or -1.20% at 26,107.65 ; Korea’s Kospi Index shed 49.77 points or -2.13% at 2,292.01 ; Shanghai’s SSE Index down 48.68 points or -1.43% at 3,355.35 ; Australia’s All Ordinaries index down 33.80 points or -0.50% at 6,784.30.
