16/05/2022

THAILAND DAILY

NEWSPAPER / MAGAZINE / PUBLISHER

bursa-malaysia-lower-in-early-trade,-tracking-us-equities

Bursa Malaysia lower in early trade, tracking US equities

KUALA LUMPUR,. Bursa Malaysia was lower in early trade today following weakness in US equities, which ended in the red again, led by selloffs in technology stocks and consumer discretionary, dealers said .

At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.87 of-a-point to 1,483.77 compared with 1,484.64 at yesterday’s close.

The index opened 0.79 points better at 1,485.43.

On the broader market, losers led gainers 175 to 111, while 185 counters were unchanged, 1,855 untraded and 43 others suspended.

Turnover stood at 111.54 million units valued at RM61.16 million.

Malacca Securities Sdn Bhd said the overnight US stock markets fell significantly as market participants reacted to the Bank of England’s rate hike decision.

“Investors turned cautious and continued to digest the faster tapering of bond buying by the Federal Reserve as it has turned more hawkish during the recent Federal Open Market Committee (FOMC) meeting.

“With that, we opined that market volatility remained in place on the local bourse on a downward bias tone,” it noted.

Tracking Wall Street, the brokerage firm said traders may trade in a cautious tone, especially on the technology stocks, as well as would likely put Sarawak counters on the radar ahead of the Sarawak state election and look out for plantation and energy stocks on the back of firmer commodities prices.

Among heavyweights, Maybank and CIMB shed three sen each to RM8.08 and RM5.20, respectively, while IHH Healthcare rose six sen to RM6.56, and Public Bank, Petronas Chemicals and Tenaga were flat at RM4.03, RM8.68 and RM9.24, respectively.

Of the actives, ATA IMS slid one sen to 67 sen, Fast Energy warrant gained three sen to 3.5 sen, Hwa Tai rose five sen to 72 sen, KNM Group added one sen to 15 sen, while TA Win was flat at 12.5 sen.

On the index board, the FBM Emas Index was 11.95 points lower at 10,817.72, the FBMT 100 Index went down 9.09 points to 10,513.74, and the FBM Emas Shariah Index decreased 11.17 points to 11,625.59.

The FBM 70 fell 23.72 points to 13,936.34 and the FBM ACE declined 29.52 points to 6,248.59.

Sector-wise, the Industrial Products and Services Index eased 0.32 of-a-point to 194.41, the Financial Services Index lost 23.06 points to 15,198.53, and the Plantation Index slid 3.79 points to 6,355.37. ― Bernama

Comments

be the first to comment on this article

Leave a Reply

Your email address will not be published. Required fields are marked *

Take Me Top