Kuala Lumpur, Oct 3 (Monday) – Bursa Malaysia ended the first trading day of the final quarter in positive note with the benchmark index FBM KLCI climbed 2.99 points or +0.21% to 1,397.62. As FBM KLCI is now in the oversold region, there could be episodes of technical rebound or dip-buying or bargain-hunting on counters with solid fundamentals and strong performance.
Meanwhile the Asian bourses ended mixed. Bourses in China closed for National Day whilst Korea’s stock exchange closed for National Foundation Day today. Therefore, the trading volumes in the region were also muted.
Hong Kong’s Hang Seng index tumbled 1.6% to a new 11-year low, as the technology-heavy index continued face selling pressure as investors discounted future earnings against rising bond yields and interest rates. On the contrary, Japanese Nikkei 225 index jumped 1% despite data showing that business sentiment worsened in the country during the third quarter.
This week, investors are expected to wait for the announcement made by Australia’s central bank (RBA) on its interest rate decision, while several countries in Asia will report inflation data. Some analysts or economists expect RBA to raise rates by 25 to 40 basis points to convey the view of RBA nearing the end of upsized hikes.”
** The FTSE BM KLCI opened at 1,393.70. The index fluctuated between 1,384.82– 1,401.03
** 285 counters are gainers, 383 counters are unchanged, while 530 counters are losers.
** Total volume of 1,789,380,400 shares changed hands; while Turnover of RM 1,449,103,827
** The Top 5 Gainers: NESTLE (131.70, +1.20); PETDAG (20.70, +0.68); IMASPRO (5.40, +0.42); BKAWAN (20.30, +0.30); SP500-H13 (3.35, +0.29)
** The Top 5 Losers: NESTLE (130.50, -1.40); PETDAG (20.02, -0.82); HARISON (5.86, -0.45); TENAGA (8.05, -0.20); ORIENT (6.49, -0.15)
** The Top 5 Active : TOPGLOV (0.595 , -0.03); TWL (0.05, +0.005); HSI-CJW (0.09, -0.02); HSI-CJR (0.195, -0.03); PTRB (0.455, -0.005)
* Singapore’s Straits Times Index (STI) down 17.95 points or -0.57% to 3,112.29; Hong Kong’s HSI ceded 143.32 points or -0.83% at 17,079.51; Japan’s Nikkei 225 Index advanced 278.58 points or +1.07% at 26,215.79; Shanghai Stock Exchange closed for National Day of the People’s Republic of China; Korea’s stock exchange closed for National Foundation Day; Australia S&P/ASX 200 Index dropped 17.30 points or -0.27% at 6,456.90.
