FBM KLCI breaks below 1,600-mark

KUALA LUMPUR: The local bourse saw a follow through selling pressure as the key FBM KLCI closed below the 1,600-level.

At 5pm, the 30-stock index was down 10.71 points to 1,597.71 after moving between an intraday high of 1,608.79 and a low of 1,594.89. The index opened 0.29 of-a-point firmer at 1,608.71 this morning.

Market breadth turned negative as losers overpowered the gainers on a ratio of 740-to-328 stocks. Traded volumes stood at 6.34 billion shares worth RM3.05bil as profit taking activities took control.

KLCI-component stocks were overwhelmingly in red, with 22 decliners, five gainers and three counters closed unchanged.

Laggards in the KLCI component stocks included Top Glove, which fell 17 sen to RM5.08, Hartalegaimage shed 24 sen to RM9.46 and Petronas Chemicals lost 10 sen to RM7.88.

Public Bank, Sime Darby Plantationimage and Digi added two sen each to RM4.23, RM4.55 and RM4.33 respectively.

Telekom Malaysia and IHH Healthcare added one sen to RM6.03 and RM5.39 respectively.

On Bursa Malaysia, MPI was the top gainer, rising RM1.90 to RM41.70. Unisem rose 26 sen to RM8.24 and Dutch Ladyimage closed 16 sen higher at RM35.90.

Nestle fell 70 sen to RM135.80, ViTrox lost 60 sen to RM15.70 and Rapid shed 34 sen to RM7.99.

On the external front, Japan’s Nikkei 225 rose 0.72% to 29,751.61.

South Korea’s Kospi settled 33.49 points, or 1.07%, higher at 3,169.08, its highest close since Jan. 25.

Hong Kong’s Hang Seng index rose 43.97 points or 0.15% at 28,497.25.

China’s CSI300 index ended down 0.16% to 4,939.64 while the Shanghai Composite index was down 0.48% at 3,396.47.

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