Kuala Lumpur, January 27 – The local bourse finished slightly lower on Friday with the bell-weathered FBM KLCI eased 0.84 point or -0.06% at 1,497.55. The KLCI now rests just beneath the 1,500-point plateau as it finds strong resistance at 1503 point level, according to technical analysts. The main index was gravitated towards southward following losses from the plantations and financials and energy stocks.
Meanwhile, China’s Shanghai and Shenzhen stock markets still closed for Chinese New Year holiday.
Whereas the Asian bourses finished the last trading day of the week with a lackluster perfromance with capped gains as market participants are waiting the latest development of Fed’s interest rate discussions for further action.
Market participants remain anxious ahead of the release of the United States Personal Consumption Expenditure (PCE) Price Index data – this factor has put a cap on the upside of Asian equities. The upbeat US Gross Domestic Product and Durable Goods Orders data are the factors that give Asian equities support.
Hong Kong’s HSI closed 0.34% higher to 3,388.81 as the index had a volatile trading session. The gains widened towards the eleventh-hour of the trading. As the reopening of China’s economy and encouraging data of consumption and tourism spur hopes of positive momentum in the economy.
** The FTSE BM KLCI opened at 1,499.97. The index fluctuated between 1,493.07- 1,500.91
** 542 counters are gainers, 404 counters are unchanged, while 384 counters are decliners.
** Total volume of 4.623billion shares changed hands; while Turnover of RM 2.419 billion
** The Top 5 Gainers: HEXTECH (28.62, +1.14); HEIM (27.50, +0.82); F&N (24.76, +0.68); CARLSBG (23.70, +0.52); MPI (34.40, +0.40)
** The Top 5 Losers: AJI (13.80, -0.20); CHINTEK (8.11, -0.19); BKAWAN (22.56, -0.18); NSOP (3.52, -0.13); AXJ-REITSETF (0.843, -0.127)
** The Top 5 Active: MMAG (0.025, +0.005); ATAIMS (0.405, +0.01); NYLEX (0.545, +0.115); SAPNRG (0.05, 0.00); MYEG-C4D (0.105, +0.01)
Singapore’s Straits Times Index (STI) rose 11.62 points or +0.34% to 3,388.81; Hong Kong’s Hang Seng Index (HSI) climbed 122.12 points or +0.54% at 22,688.90; Japan’s Nikkei 225 index gained 19.81 points or +0.07% at 27,382.56; Korea’s Kospi Index up 15.37 points or +0.62% at 2,484.02; Australia’s S&P/ASX 200 Index rose 25.50 points or +0.34% at 7493.80.
