Bursa Malaysia ends in the red amid heavy selling pressure

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KUALA LUMPUR: Bursa Malaysia ended in the red in the present day, succumbing to heavy selling pressure throughout the board.

The efficiency was in line with regional friends, as Asian markets took a cue from the weaker in a single day efficiency on Wall Street amid renewed issues over the unfold of the Omicron COVID-19 variant, sellers mentioned.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.94 factors to 1,480.92 from 1,494.86 at Monday’s shut.

The index, which opened 1.97 factors simpler at 1,492.89 — its highest degree of the day — and fell as little as 1,479.92 in in the present day’s buying and selling.

On the broader market, losers thumped gainers 609 to 279, whereas 404 counters had been unchanged, 1,012 untraded and 20 others suspended.

Turnover elevated to 2.68 billion models valued at RM1.78 billion from Monday’s 2.63 billion models valued at RM1.85 billion.

Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng mentioned the native bourse opened decrease on revenue taking after yesterday’s rebound and trended decrease because of heavy selling pressure.

“Key regional bourses had been additionally in the red as buyers had been staying cautious amid issues over the Omicron variant whereas waiting for the Federal Reserve’s financial coverage on Wednesday.

“We reckon regional volatility will play an enormous half on the efficiency of the native market,” he instructed Bernama.

He famous that the FBM KLCI was not anticipated to see any main motion for the remainder of the week, hovering in the 1,480 to 1,500 vary given the heightened volatility.

From a technical standpoint, the quick assist was at 1,475 and resistance at 1,500, he added.

Regionally, Japan’s Nikkei 225 fell 0.73 per cent to twenty-eight,432.64, Hong Kong’s Hang Seng Index decreased 1.33 per cent to 23,635.95, and South Korea’s Kospi shed 0.46 per cent to 2,987.95, however Singapore’s Straits Times Index improved 0.08 per cent to three,122.59.

Among the heavyweights, Maybank fell 9 sen to RM8.09, IHH Healthcare shed six sen to RM6.50, CIMB slipped 10 sen to RM5.14, and Tenaga eased 5 sen to RM9.23.

Petronas Chemicals added six sen to RM8.61 whereas Public Bank was flat at RM4.00.

Of the actives, AT Systematization eased half-a-sen to 4 sen, Permaju Industries trimmed one sen to 4 sen, Dataprep improved one sen to RM1.05, Kanger International edged up half-a-sen to 2.5 sen, and BCM Alliance was flat at 2.5 sen.

On the index board, the FBM Emas Index was 96.10 factors decrease at 10,793.19, the FBMT 100 Index fell 97.79 factors to 10,486.85, and the FBM Emas Shariah Index decreased 109.29 factors to 11,616.03.

The FBM 70 dropped 125.72 factors to 13,874.20 and the FBM ACE erased 45.58 factors to six,185.50.

Sector-wise, the Industrial Products and Services Index eased 1.37 factors to 193.33, the Financial Services Index tumbled 142.89 factors to fifteen,078.64, and the Plantation Index contracted 98.59 factors to six,430.50.

The Main Market quantity widened to 1.67 billion shares valued at RM1.59 billion versus Monday’s 1.65 billion shares valued at RM1.62 billion.

Warrants turnover shrank to 219.22 million models value RM32.98 million towards 270.54 million models value RM46.49 million.

The ACE Market quantity grew to 777.32 million shares valued at RM157.04 million from 705.40 million shares valued at RM182.02 million beforehand.

Consumer services and products counters accounted for 503.01 million shares traded on the Main Market, industrial services and products (468.14 million), building (55.25 million), expertise (185.93 million), SPAC (nil), monetary companies (61.23 million), property (68.97 million), plantation (12.23 million), REITs (10.96 million), closed/fund (561,700), vitality (124.77 million), healthcare (110.14 million), telecommunications and media (24.74 million), transportation and logistics (24.81 million), and utilities (19.23 million). – Bernama



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