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Sunday, February 5, 2023

FBM KLCI pulls back 1.06% in line with regional retreat

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KUALA LUMPUR: The FBM KLCI ended the day in red on Monday in line with the weak performance of its regional peers.

The 30-stock index ended down 15.5 points, or 1.06% to 1,441.24, the lowest since May 2020.

The broader market sagged, with decliners outnumbering advancers 747 to 200 while 351 counters were unchanged.

Dealers said the local bourse which tracked the performance of key Asian markets, was weighed down by banking stocks. They expect volatility to continue due to the uncertainties surrounding the global economy.

On the external front, MSCI’s broadest index of Asia-Pacific shares ex-Japan lost 0.16%.

Japan’s Nikkei 225 fell 0.74% to 25,771.22 while South Korea’s Kospi ended down 2.04% to at 2,391.03.

Hong Kong’s Hang Seng index rose 0.4% to 21,163.91.

China’s CSI300 index rose 0.5% to 4,330.43, while the Shanghai Composite Index closed 0.04% lower at 3,315.43.

On Bursa Malaysia, Malaysian Pacific Industries tumbled 98 sen to RM28.52, Batu Kawan lost 52 sen to RM22.70, Dutch Lady fell 46 sen to RM32.32 and Petron Malaysia eased 43 sen to RM5.45.

Among the gainers, Nestle added 40 sen to RM131.60, F&N rose 20 sen to RM19.90, Amway gained 18 sen to RM5.20 and Petronas Gas climbed 10 sen to RM16.14.

SFP Tech, which debut on the ACE Market of Bursa Malaysia on Monday, added 37 sen to 67 sen with 328.98 million shares traded.

Among the banks, Maybank lost 23 sen to RM8.65, Public Bank declined six sen to RM4.43, CIMB fell two sen to RM4.90, RHB Bank eased 15 sen to RM5.73 and Hong Leong Bank fell 30 sen to RM20.70.

Meanwhile, Brent crude fell US$1.35 to US$111.77 a barrel while US West Texas Intermediate crude was at US$109.14 per barrel, down 42 cents.


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