Kuala Lumpur, Oct 19 – Bursa Malaysia ended in mild bullish note today with the barometer index FBM KLCI climbed 14.74 points or +1.05% at 1,415.10. The index was lifted by selected buying on the heavyweights.
Meanwhile Asian bourses ended mixed today with China-exposed equities tumbling further as investors become jittery over a potential economic slowdown in the country due to its zero-COVID policy and U.S. curbs on chips. The fact that Beijing has postponed the release of key third-quarter economic data adds uncertainty over the state of the economic performance of the world’s second largest economy. The delay was attributed to the 20th National Congress of the Chinese Communist Party
To add the salt to the wound, new U.S. curbs to block chip exports to Chinese companies have driven Chinese technology stocks under selling pressure as investors remain wary of the deeper repercussions of the latest curbs. Stimulus measures announced by Beijing to support economic growth seems to do little to improve sentiment, at this point.
Hong Kong’s HSI index reversed its yesterday gain and tumbled 2.38%, dragged by technology heavyweights, automotives stocks, and blue chips properties.
** The FTSE BM KLCI opened at 1,402.68. The index fluctuated between 1,400.28 – 1,414.42.
** 437 counters are gainers, 382 counters are unchanged, while 426 counters are decliners.
** Total volume of 2,234,031,800 shares changed hands; while Turnover of RM 1,717,703,850
** The Top 5 Gainers: HEXTECH (7.10, +0.81); NESTLE (132.70, +0.70); PETGAS (17.00, +0.54); PETDAG (20.80, +0.50); KLK (21.20, +0.50)
** The Top 5 Losers: PANAMY (22.50, -0.50); DLADY (31.30, -0.44); MPI (26.24, -0.42); UTDPLT (14.10, -0.40); CARLSBG (22.20, -0.26)
** The Top 5 Active : TOPGLOV (0.725, -0.015); HHHCORP (0.13, -0.03); HSI-CJW (0.055, -0.025); UEMS (0.20, +0.01); HONGSENG (0.245, -0.025)
* Singapore’s Straits Times Index (STI) up 0.09 points or 0% to 3,025.97; Hong Kong’s HSI slid 403.30 points or -2.38% at 16,511.28; Japan’s Nikkei 225 Index climbed 101.24 points or +0.37% at 27,257.38; Shanghai’s SSE Composite Index dropped 36.58 points or -1.19% at 3,044.38; Korea’s Kospi Index shed 12.51 points or -0.56% at 2,237.44; Australia S&P/ASX 200 Index rose 20.90 points or +0.31% at 6,800.10.
