Kuala Lumpur, Oct 11 – Bursa Malaysia closed broadly lower today. The benchmark index FBM KLCI retreated 19.18 point or -1.36% to 1,386.82. The KLCI took a beating following the dissolution of parliament yesterday.
Last Friday, US released its September jobs data which showed the US employment market slowing only modestly, setting the stage for more rate hikes. Some economists hold the view that “the relatively strong employment data negated optimistic views among investors last week that major central banks around the world might let up on monetary tightening.”
Most of the Asian bourses ended in red today, except Shanghai and Singapore. Japan’s Nikkei 225 Index plunged 2.64% while Hong Kong’s HSI index came next, dived 2.23%. The HSI index printed the lowest level seen in 11 years and plunged below 17,000-point level. The tech-heavy index was dragged tech stock such as BiliBili, Meituan, Tencent, Alibaba, and semiconductor makers, SMIC and Hua Hong. The technology rivalry between US and China has sent the techn stocks tumbling. Airlines stocks were badly hit too. However, the inflows of fund from Mainland China to HKSE showed dip-buying at this point as the stocks were in oversold region.
Mainland China markets bucked the trend regionally, with the Shanghai Composite SSE Index climbed 0.19% after Golden Week holidays. Singapore’s STI Index held up well with the index remained almost flattish, moved marginally upward by 0.02%.
** The FTSE BM KLCI opened at 1,400.58. The index fluctuated between 1,383.58 – 1,400.58.
** 197 counters are gainers, 303 counters are unchanged, while 786 counters are losers.
** Total volume of 2,349,480,400 shares changed hands; while Turnover of RM 1,858,842,807
** The Top 5 Gainers: SP500-H13 (3.41, +0.61); HSI-HEV (2.02, +0.53); HEXTECH (5.64, +0.34); HSI-HE9 (1.78, +0.33); HSI-HEU (1.18, +0.315)
** The Top 5 Losers: NESTLE (129.50, -1.40); MPI (27.10, -1.28); FANG-2XL (5.36, -0.71); KLK (19.80, -0.60); DLADY (30.40, -0.60)
** The Top 5 Active : MYEG (0.885, -0.025); HSI-CJR (0.16, -0.125); ICON (0.12, +0.01); ASB (0.07, +0.01); TOPGLOV (0.625, -0.02)
* Singapore’s Straits Times Index (STI) up 0.51 points or +0.02% to 3,107.98 ; Hong Kong’s HSI dived 384.30 points or -2.23% at 16,832.36; Japan’s Nikkei 225 Index nosedived 714.86 points or -2.64% at 26,401.25; Shanghai’s SSE Composite Index up 5.65 points or +0.19% at 2,979.79; Korea’s Kospi Index down 40.77 points or -1.83% at 2,192.07; Australia S&P/ASX 200 Index shed 22.80 points or -0.34% at 6,645.
