FBM KLCI Reversed Earlier Losses and Ended in Pale Green; Nikkei 225 Stumbled 1.44%, Wiped Off Yesterday’s Gain

Kuala Lumpur, January 19 – Just two days before the long Chinese New Year holidays, Bursa Malaysia ended in a flattish mode on Thursday with the benchmark FBM KLCI crawled up slightly by 0.72 point or +0.05% at 1,496.22.

The index reversed its earlier losing streak and it was lifted by positive sentiment following Bank Negara Malaysia’s decision to keep the overnight policy rate (OPR) unchanged.

Meanwhile, Asian stocks ended mixed with the bull factor of optimism over a Chinese economic recovery this year versus the bear factor of growing fears of a recession after U.S. data released overnight painted a dour picture of the world’s largest economy.

Japan’s Nikkei 225 led the losses today by sharply reversing recent gains as traders bet on more hawkish moves from the Bank of Japan. The index slid 1.44% to close at 26,405.23 after Japan recorded another trade deficit for December. The yen currently stands at 128.14 against the U.S. dollar.

Japan is due to release its CPI data on Friday, and the inflation rate is expected to hit a 41-year high of 4% – twice the BOJ’s annual target.

Hong Kong’s Hang Seng index fell 0.12% whilst China’s Shanghai Composite rose 0.49% to 3,240.28 after International Monetary Fund Deputy Director Gita Gopinath said that China could see a strong economic recovery by as soon as the second quarter.

South Korea’s Kospi inched up 0.51% to close at 2,380.34 while the Australia’s S&P/ASX 200 edged up 0.57% to 7,435.3.

** The FTSE BM KLCI opened at 1,494.80. The index fluctuated between 1,493.42 – 1,501.71

** 407 counters are gainers, 443 counters are unchanged, while 387 counters are decliners.

** Total volume of 2.498 billion shares changed hands; while Turnover of RM 1.9 billion

** The Top 5 Gainers: F&N (23.94, +0.66); PETDAG (22.88, +0.36); HEIM (26.34, +0.26); RAPID (16.50, +0.24); KLCC (6.91, +0.13)

** The Top 5 Losers: HEXTECH (23.66, -0.50); FANG-2XL (5.08, -0.19); MPI (33.10, -0.14); VITROX (7.74, -0.12); ORIENT (6.88, -0.11)

** The Top 5 Active: DATAPRP (0.215, -0.005); CITAGLB (0.32, -0.005); CYPARK (0.675, +0.005); MAYBANK (8.80, -0.01); ATAIMS (0.20, -0.005)

Singapore’s Straits Times Index (STI) dropped 14.31 points or -0.44% to 3,275.24; Hong Kong’s HSI declined 27.02 points or -0.12% at 21,650.98; Japan’s Nikkei 225 index stumbled 385.89 points or -1.44% at 26,405.23; Shanghai’s SSE Composite Index up 15.87 points or +0.49% at 3,240.28; Korea’s Kospi Index gained 12.02 points or +0.57% at 2,380.34; Australia’s S&P/ASX 200 Index up 41.90 points or +0.57% at 7,435.30.

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