Asian Bourses: Bearish Sentiment Keep Reins

Kuala Lumpur, Sep 19 (Monday) – Bursa Malaysia ended in deep red with the main index FBM KLCI dived 15.79 points or -1.08% to 1,451.52. Followed the negative cue from the regional performance, KLCI has fallen below the support level of 1460-point. Meanwhile, the Asian bourses closed in overwhelmingly negative territory with Korea’s KOSPI Index and Japan’s Nikkei 225 Index dived 1.14% and 1.11% respectively. Hong Kong’s HSI also extended its bearish movement and ended 1.04% lower today. HSI is at its lowest point in 6-month period, dragged by tech stocks and bio-technology stocks, down 2%. Asian stock market’s outlook: It is expected to be a volatile week with the interest rate hikes announcements to be made by major central banks around the world. But the risk tone has heightened with the slowing of economy in the mainland China as well as the energy crisis facing Europe now.

** The FTSE BM KLCI opened at 1,459.51. The index fluctuated between 1,446.04 – 1,460.91

** 217 counters are gainers, 349 counters are unchanged, while 706 counters are losers.

** Total volume of 2,185,420,400 shares changed hands; while Turnover of RM 1,763,220,145

** The Top 5 Gainers: NESTLE (130.00, +1.30); PETGAS (16.82, +0.32); SP500-H13 (2.42, +0.31); UTDPLT (14.88, +0.30); BIPORT (5.25, +0.15)

** The Top 5 Losers: PMBTECH-LA (20.04, -1.96); DLADY (31.40, -0.70); PPB (16.34, -0.70) ; MPI (29.10, -0.50); F&N (21.90, -0.42)

** The Top 5 Active : TOPGLOV (0.705, -0.06); MTRONIC (0.02, UNCHANGED); SNS (0.295, -0.005); XOX (0.02, +0.005); HARTA (1.49, -0.11)

* Singapore’s Straits Times Index (STI) down 11.98 points or -0.37% to 3,256.31;  Hong Kong’s HSI dropped 195.72 points or -1.04% at 18,565.97; Japan’s Nikkei 225 Index dived 308.26 points or -1.11% at 27,567.65; Shanghai’s SSE Index shed 10.80 points or -0.35% at 3,115.60; Korea’s KOSPI Index dived 27.12 or -1.14% at 2,355.66; Australia’s S&P/ASX 200 down 19.20 points or -0.28% at 6,719.90.

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