KUALA LUMPUR, Oct 22 (Bernama) — Bursa Malaysia ended the week on a decrease notice on continued profit-taking because the benchmark index remained in consolidation mode.
At 5 pm,the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.22 per cent or 3.54 factors to 1,588.08 from Thursday’s shut of 1,591.62.
The market bellwether, which opened 0.10 of-a-point larger at 1,591.72, moved between 1,582.22 and 1,591.91 all through the buying and selling session.
Market breadth was destructive with losers beating gainers 597 to 410, whereas 469 counters had been unchanged, 804 untraded, and 15 others suspended.
Turnover fell to three.07 billion models valued at RM2.18 billion versus 3.85 billion models value RM3.47 billion on Thursday.
Rakuten Commerce Sdn Bhd vice-president of fairness analysis Thong Pak Leng stated the FBM KLCI was dragged down primarily by heavyweights in metal, gaming, and banking counters.
“Key regional indices in the meantime are in inexperienced following experiences by the Chinese language media that debt-ridden developer China Evergrande Group is getting ready to pay the curiosity on a bond that was due on Sept 23, 2021 earlier than the grace interval ends on Saturday,” he instructed Bernama.
In keeping with information experiences, Evergrande, which has practically US$20 billion (US$1=RM4.15) in offshore debt, missed coupon funds totalling practically US$280 million on its greenback bonds on Sept 23, Sept 29, and Oct 11, 2021 starting 30-day grace durations for every.
Subsequent non-payment would lead to formal default and set off cross-default provisions for its different greenback bonds.
Evergrande Group is the world’s most indebted actual property developer with dues value over US$300 billion, together with financial institution loans, short-term borrowings, and provider credit score, amongst others.
The quantity is equal to 2 per cent of China’s gross home product (GDP) and doubtless one of many largest debt piles on the planet.
In the meantime, on the native bourse, heavyweights Maybank slid 5 sen to RM8.15, whereas Public Financial institution, Petronas Chemical substances, and IHH Healthcare had been all flat at RM4.23, RM8.81 and RM6.60 respectively.
Tenaga was up one sen to RM9.76 and CIMB eased 10 sen to RM5.23.
As for actives, Serba Dinamik
was down two sen to 35 sen, Sapura Energy was flat at 10.5 sen, and Opcom rose 20 sen to RM1.33.
On the index board, the FBM Emas Index misplaced 13.94 factors to 11,709.40 and the FBMT 100 Index fell 21.83 factors to 11,339.79.
The FBM 70 slipped 16.28 factors to fifteen,376.63, the FBM ACE gave up 28.06 factors to 7,170.88, however and the FBM Emas Shariah Index recovered 3.48 factors to 12,789.10.
Sector-wise, the Monetary Providers Index decreased 68.32 factors to fifteen,718.05 and the Industrial Merchandise and Providers Index slid 1.32 factors to 209.74, and the Plantation Index was 16.56 factors decrease at 7,021.94. – Bernama
