Asian Stocks Slumped as Risk-Off Mode on Inflation Data

Kuala Lumpur, Aug 10 – Bursa Malaysia ended slightly lower on Wednesday with the main index, FBM KLCI shed 5.25 points or -0.36% to 1492.33. The performance of KLCI today was in line with the performance of the regional peers. All Asian stock markets were dipped in red, except for Singapore’s STI index which rose mildly. Of all the laggards, Hong Kong’s HSI down by 1.96%, and left the HSI fell below the 20,000 psychological level. Japan’s Nikkei 225 too declined by 0.65% and left the index fell below the 28,000 resistance level. Generally, the Asian stocks displayed a vulnerable performance as investors have turned on risk-off mode as the newly released China’s CPI was higher than consensus and ahead of the US Consumer Price Index (CPI). The National Bureau of Statistics of China released a higher Consumer Price Index (CPI) at 2.7% than the prior release of 2.5%. However, the annual cost pressures remained lower than the expectation of 2.7%.

** The FTSE BM KLCI opened at 1,495.72. The index fluctuated between 1,490.45 – 1,496.25.

** 242 counters are gainers, 395 counters are unchanged, while 601 counters are losers.

** Total volume of 2,165,386,700 shares changed hands; while Turnover of RM 1,677,117,104

** The Top 5 Gainers: DLADY (33.00, +0.66) ; NESTLE (135.30, +0.60) ; TEXCHEM (3.19, +0.29) ; KLK (22.50, +0.24) ; BLDPLNT (9.00, +0.22)

** The Top 5 Losers: MPI (30.82, -1.08) ; HARTA (2.45, -0.35) ; VITROX (7.22, -0.28) ; F&N (22.50, -0.28) ; AMLEX (0.47, -0.23)

** The Top 5 Most Active Stocks: G3 (0.035, -0.005) ; TOPGLOV (0.930, -0.055) ; MTRONIC (0.055, UNCHANGED); DNEX (0.87, -0.02) ; HSI-CJC (0.35, -0.10)

* Singapore’s Straits Times Index (STI) rose 13.37 points or +0.41% to 3,284.35;  Hong Kong’s HSI slumped 392.60 points or -1.96% at 19,610.84 ; Japan’s Nikkei 225 dived 180.63 points or -0.65% at 27,819.33 Korea’s Kospi Index down 22.58 points or -0.90% at 2,480.88; Shanghai’s SSE Index shed 17.41 points or -0.54% at 3,230.02; Australia’s ASX 200 dropped 37.10 points or -0.53% at 6,992.70.

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