FBM KLCI Skidded Lower at Mid Day as Investors Tiptoeing on Cautious Mood

After a shallow dip at the opening, Bursa Malaysia widened its losses and closed the Tuesday morning trading session lower with the main index FBM KLCI declining 8.85 points or -0.59% at 1,484.57 vis-a-vis yesterday’s close of 1,493.42.

The performance of KLCI was in line with that of the regional peers. Also, the investors might tiptoe on a cautious mood following the hawkish remarks made by the two US Federal Reserve officials that interest rates may exceed 5% this year. THE DJIA shed 0.34% to 33,517.65, as stocks pared gains as a result of that.

At 9:00 am, the index inched higher at 1,490.40.

During the morning trading session, the index was traded in the range of 1,482.06 – 1,491.22.

Last Friday, the Dow Jones Industrial Average surged 2.13% or 700 points, while the Nasdaq gained 2.56% or 264 points, as the market participants digested the inflation data in the US. It may be heading for a cooling off, hence a dovish stance by Federal Reserve on rate hikes.

Top five active counters for the morning session were L&P Global , Berjaya Corp., SMTrack, Hong Seng Consolidated, Citaglobal.

Top five gainers were Heineken Malaysia, Batu Kawan, Malaysia Airports Holdings, Tex Cycle Technology, Fraser & Neave.

Whilst top five decliners were Nestle Malaysia, Hextar Technologies, Ajinomoto Malaysia, Inari Amertron, MISC.

Previous articleMeraque Targets To Be 10th Best Global Drone Service Provider In Five Years
Next articleRockwell Automation Appoints New Singapore Country Manager


Please enter your comment!
Please enter your name here