Kuala Lumpur, Sep 29 (Thursday) – After the S&P 500 hit a new 2022 low overnight on Wall Street, Bursa Malaysia closed lower today with the barometer index FBM KLCI slid 4.39 points or -0.31% to 1,397.50.
Most of the Asian indices rose following a rebound on Wall Street overnight. The rebound in the Wall Street came after the Bank of England said it would intervene in the bond market to stabilize conditions. The rebound in the Asian stocks is also due to the fall in 10-year benchmark US Treasury yields. The US Tresure yields hit a high of 4% for the first time since 2010, have fallen to nearly 3.76%.
Meanwhile, it was reported by Reuters that “the Chinese Finance ministry is planning to issue government bonds worth 2.5 trillion yuan in the fourth quarter”. The decision is supposed to safeguard the markets from any further turmoil as the economy is sagging amid zero tolerance for Covid-19 spread and the real estate crisis.
** The FTSE BM KLCI opened at 1,407.39. The index fluctuated between 1,395.81– 1,410.76
** 343 counters are gainers, 412 counters are unchanged, while 499 counters are losers.
** Total volume of 2.27 billion shares changed hands; while Turnover of RM 1,860,892,134
** The Top 5 Gainers: NESTLE (131.90, +1.20); CFM (1.93, +0.44); F&N (21.50, +0.42); HSI-HKH (1.95, +0.41); DLADY (31.00, +0.40)
** The Top 5 Losers: PANAMY (22.88, -0.62); PETDAG (20.84, -0.36); SP500-H13 (3.01, -0.26); HARISON (6.31, -0.23); SCIPACK (2.18, -0.17)
** The Top 5 Active : TOPGLOV (0.585 , -0.005); PTRB (0.435, +0.02); VELESTO (0.11, -0.005); NWP (0.245, UNCHANGED); MYEG (0.855, +0.02)
* Singapore’s Straits Times Index (STI) rose 4.48 points or +0.14% to 3,120.79; Hong Kong’s HSI dropped 85.01 points or -0.49% at 17,165.87; Japan’s Nikkei 225 Index advanced 248.07 points or +0.95% at 26,422.05; Shanghai’s SSE Composite Index shed 3.86 points or -0.13% at 3,041.20; Korea’s KOSPI Index up 1.64 points or +0.076% at 2,170.93; Australia S&P/ASX 200 Index climbed 93 points or +1.44% at 6,555.
