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Bursa’s relief rally fizzles on OPR fears

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Bursa’s relief rally fizzles on OPR fears

KUALA LUMPUR: The FBM KLCI fell almost 10 factors in morning commerce as buyers took the sidelines forward of the central financial institution’s financial coverage committee assembly later this week.

At 12.30pm, the important thing index was down 9.65 factors to 1,440.09. The general market was additionally detrimental with 594 decliners in contrast with 196 gainers.

Amid the bearish temper, buying and selling quantity on the market was low with 1.03 billion shares traded for a price of RM501.52mil.

On the blue-chip index, equities had been principally decrease.

Financial companies shares slumped with Maybank falling 4 sne to RM8.58, Public Bank dropping three sen to RM4.39 and CIMB shedding two sen to RM5.01. Hong Leong Bank was an outlier, rising eight sen to RM20.44.

Telcos had been additionally down with Axiata dropping seven sen to RM2.76, Digi sliding three sen to RM3.61 and Maxis shedding one sen to RM3.30.

The decline was was additionally felt within the oil and fuel sector as fears over an impending recession solid fears over demand threat.

Petron Malaysia fell 18 sen to RM5.35 and Hengyuan Refining slid 15 sen to RM4.50.

Of actives, Reach was unchanged at 5.5 sen, Top Glove down two sen to 99 sen and Jade Marvel unchanged at 91 sen.

Meanwhile, Japan’s Nikkei rose 0.5%, South Korea’s Kospi rose 0.2% and China’s composite index gained 0.1%.

Hong Kong’s Hang Seng slipped 0.6% whereas Australia’s ASX200 rose 1.1%.



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