Asian Bourses: Indices Headed South with Looming Rate Hikes

Kuala Lumpur, Sep 21 (Wednesday) – Bursa Malaysia closed in red today with the bell-weathered index FBM KLCI ceded 13.92 points or -0.95% to 1,447.18. The KLCI moved in tandem with the performance of regional markets. As investors are jittery over the aggressive interest rate decision by US Federal Reserve and other major central banks, geopolitical crisis, and threats of recession, Asian bourses ended in negative territory with risk-off mood.

Hong Kong’s Hang Seng Index (HSI) slid 1.79%, the worst performer of the peers, hit the 6-month low. Tech-heavy HSI was dragged by tech index, which fell more than 3%. On the contrary, shipping sector headed north, bucked the market trend. Australia’s ASX 200 Index had declined 1.56%, hitting a new 1-month low, dragged by metals & mining, utilities and materials stocks. Japan’s Nikkei 225 Index also headed south by diving 1.36% with losses in shipbuilding, real estate, and power sectors.

** The FTSE BM KLCI opened at 1,459.45. The index fluctuated between 1,447.29 – 1,459.89

** 296 counters are gainers, 440 counters are unchanged, while 529 counters are losers.

** Total volume of 2,342,986,900 shares changed hands; while Turnover of RM 1,658,171,026

** The Top 5 Gainers: HEXTECH (4.07, +0.25); AYER (6.50, +0.25); SFPTECH (1.71, +0.21); MISC (7.15, +0.17); HSI-HKO (1.13, +0.17)

** The Top 5 Losers: PETDAG (21.20, -0.48); MPI (29.16, -0.32); PETGAS (16.40, -0.30) ; PMETAL (4.14, -0.28); CARLSBG (22.42, -0.26)

** The Top 5 Active : TOPGLOV (0.645, -0.06); BORNOIL (0.025, -0.005); VELESTO (0.125, +0.01); CAP (0.005, UNCHANGED); SNS (0.275, +0.005)

* Singapore’s Straits Times Index (STI) down 1.43 points or -0.04% to 3,265.51; Hong Kong’s HSI dived 336.80 points or -1.79% at 18,444.62; Japan’s Nikkei 225 Index slid 375.29 points or -1.36% at 27,313.13; Shanghai’s SSE Index dropped 5.23 points or -0.17% at 3,117.18; Korea’s KOSPI Index shed 20.64 points or -0.87% at 2,347.21; Australia’s S&P/ASX 200 ceded 106.20 points or -1.56% at 6,700.20.

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