Kuala Lumpur, Oct 17 – Bursa Malaysia ended in positive territory today with the barometer index FBM KLCI up marginally higher by 3.80 points or +0.27% at 1,386.27. The KLCI reversed its losing streak in the morning trading session as the opportunities for dip-buying for stocks with attractive valuation and strong fundamentals emerge.
Investors are expected to stay on the sideline for major data as several Asian countries are going to report inflation data, while Australia will release unemployment statistics and China will announce its loan prime rate decision this week,
Meanwhile Asian bourses ended in mixed as recession fears weigh in over expectations of continued tighten monetary policies around the world. The laggard amongst them all today is Japan’s Nikkei 225, which declined 1.16% to 26,775.79 as U.S. dollar continued to hover at 32-year highs against Japanese Yen. Australia’s S&P/ASX 200 dropped 1.4% at 6,664.40 as the slowdown in China economy drags the performance of mining companies.
Hong Kong’s Hang Seng index inched up marginally in the final hour of trade after reversing losses in the early trading session, HSI gained merely 0.15% at 16,612.90, supported by financial and banking stocks. Whilst Mainland China’s the Shanghai Composite pared earlier losses and gained 0.42% to 3,084.94.
U.S. stocks closed lower last Friday with DJIA plummeted 1.34% and Nasdaq nosedived 3.08% after a University of Michigan survey showed inflation expectations were increasing.
** The FTSE BM KLCI opened at 1,383.50. The index fluctuated between 1,376.68 – 1,389.21.
** 363 counters are gainers, 394 counters are unchanged, while 443 counters are decliners.
** Total volume of 1,976,151,920 shares changed hands; while Turnover of RM 1,488,916,848
** The Top 5 Gainers: NESTLE (131.80, +0.80); PANAMY (22.90, +0.50); DLADY (31.50, +0.50); BKAWAN (20.48, +0.28); SAM (5.01, +0.27)
** The Top 5 Losers: FANG-2XL (5.04, -0.41); MPI (25.40, -0.40); AEONCR (12.72, -0.28); F&N (20.56, -0.24); GAMUDA (3.70, -0.20)
** The Top 5 Active : SUNVIEW (0.46, +0.17); TOPGLOV (0.74, +0.05); HSI-CJW (0.065, +0.01); CAREPLS (0.415, +0.095); SUPERMX (0.905, +0.08)
* Singapore’s Straits Times Index (STI) shed 18.86 points or -0.62% to 3,020.72; Hong Kong’s HSI rose 25.21 points or +0.15% at 16,612.90; Japan’s Nikkei 225 Index nosedived 314.97 points or -1.16% at 26,775.79; Shanghai’s SSE Composite Index climbed 12.96 points or +0.42% at 3,084.94; Korea’s Kospi Index up 7.16 points or +0.32% at 2,219.71; Australia S&P/ASX 200 Index ceded 94.40 points or -1.40% at 6,664.40.
