Stranded Exchanges, Market ‘Sharks’ Alert In Red Region

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 At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 9.41 points at 1,455.42 from Monday's close of 1,464.83.


The index opened 6.97 points weak at 1,457.86.


The bourse entered a bearish trend reflecting a sell session on Wall Street to open lower with investors remaining wary of market volatility plaguing global equities.


On the broader market, investors saw losers at 529 outnumber gainers at 63, while 216 counters were unchanged, 1,455 untraded and 9 suspended.


Total turnover at 355.69 million units worth RM239.99 million.



Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the Wall Street selling session reflected concerns of the US central bank's aggressive tightening ahead of a policy meeting this week.


It also indirectly makes local investors trade with cautious sentiment and the KLCI is expected to hover at 1,450 to 1,470 today.


Heavyweights saw Malayan Banking Bhd (Maybank) down 5 sen at RM8.68, Public Bank Bhd lost 3 sen at RM4.48 and Petronas Chemicals Group Bhd down 10 sen at RM9.56 and IHH Healthcare Bhd remained at RM6.22.


Active stocks saw Unitrade Industries Bhd down 6 sen at 26 sen, Dagang NeXchange Bhd (DNeX) down 2 sen at 88.5 sen and Yew Lee Pacific Group Bhd down 0.5 sen at 29 sen while Serba Dinamik Holdings Bhd and Ta Win Holdings Bhd remained at 10 sen. sen and 8.5 sen.


On the index board, the FBM Emas index was down 83.48 points at 10,393.72, the FBM Emas Shariah index was down 82.58 points at 10,598.07, the FBM 70 was down 136.75 points at 12,542.87, the FBM ACE was down 79.64 points at 4,837.02 and the FBMT 100 index was down 75.90 points at 10,116.49.


In terms of sectors, the Financial Services index declined 120.96 points at 16,058.95, the Plantation index declined 60.43 points at 7,322.48 and the Products and Services Industry index declined 1.90 points at 186.92.

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