Kuala Lumpur, February 2 – Influenced by downward pressure on the regional bourses, the local stock market ended in positive note on Thursday with the benchmark FBM KLCI collected 4.30 points or +0.29% at 1,489.80.
The main index was playing a catchup with regional peers after one-day holiday yesterday. The positive movement could also be attributed to the positive cue of Wall Street’s rebound overnight. The latest movement of the index implies that market has already priced in the effects of interest rates hikes and acknowledging that inflationary pressure has been tapering off.
Meanwhile, the Asian bourses ended in mixed Thursday, with technology shares gaining the most after the Federal Reserve’s latest meeting drove up expectations for an eventual dovish tilt by the central bank.
As widely expected, the US Federal Reserve raised interest rates on Wednesday, and signaled that it will keep hiking rates to curb inflation. But this spurred expectations that the ensuing economic fallout will push the bank into potentially cutting interest rates by as soon as late-2023.
** The FTSE BM KLCI opened at 1,488.82. The index fluctuated between 1,485.90- 1,493.21.
** 681 counters are gainers, 372 counters are unchanged, while 340 counters are decliners.
** Total volume of 5.144 billion shares changed hands; while Turnover of RM 2.945 billion
** The Top 5 Gainers: HEIM (29.00, +1.00); FANG-2XL (6.98, +0.92); CARLSBG (24.20, +0.66); F&N (25.40, +0.60); PETDAG (22.30, +0.50)
** The Top 5 Losers: HAPSENG (7.14, -0.26); CANONE (3.31, -0.14); PCHEM (8.22, -0.13); HLFG (18.38, -0.12); SP500-H19 (0.235, -0.12)
** The Top 5 Active: HONGSENG-WB (0.02, 0.00); VELESTO (0.255, +0.025); BORNOIL (0.02, 0.00); HONGSENG (0.215, +0.015); SAPNRG (0.05, 0.00)
Singapore’s Straits Times Index (STI) skidded 14.66 points or -0.43% to 3,362.99; Hong Kong’s Hang Seng Index (HSI) retreated 113.82 points or -0.52% at 21,958.36; Japan’s Nikkei 225 index added 55.17 points or +0.2% at 27,402.05; Shanghai’s SSE Composite Index up 0.75 points or +0.023% at 3,285.67; Korea’s Kospi Index climbed 19.08 points or +0.78% at 2,468.88; Australia’s S&P/ASX 200 Index collected 9.90 points or +0.13% at 7,511.60.
