FBM KLCI Not Brave enough to Capture Peak, Investors Still Be Patient?

thecekodok


Bursa Malaysia ended the afternoon session somewhat mixed with declines in certain counters such as the financial services and plantation sectors.


At 2.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was almost flat, rising 0.1% to 1,592.03 compared to its close on Wednesday at 1,591.87.


Broad market sentiment was negative with losers outpacing 1,316 counters to 155. Meanwhile, 267 counters were unchanged.


Malacca Securities Sdn Bhd said Wall Street's performance overnight pushed the local market closer to the decisive zone if further selling pressure prevails.


The firm believes that the construction, real estate and technology sectors will benefit from the current trend of data center secularization despite the potential direction in oversold conditions.


Most of the local consumer sectors saw an increase due to the stronger ringgit.


Meanwhile, the FBM Gold Index declined 115.51 points to 11,986.19, the FBMT 100 Index decreased 108.71 points to 11,642.10, the FBM 70 Index decreased 265.02 points to 17,283.35.


The FBM ACE Index fell 73.39 points to 5,144.08 and the FBM Emas Shariah Index fell 135.94 points to 12,078.77.


By sector, the Financial Services Index decreased 88.95 points to 17,971.86, the Energy Index decreased 13.89 points to 897.70, the Industrial Products and Services Index declined 1.30 points to 176.64.


The Plantation Index fell 44.31 points to 7,005.20 and the Technology Index fell 1.54 points to 67.48.

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