Bursa broadly decrease, power shares climb

KUALA LUMPUR: The FBM KLCI was barely decrease however acquired assist from Petronas Chemical substances to remain above the psychological degree of 1,600 factors.

At 12.30pm, the benchmark index was down 2.35 factors to 1,602.37. The general market nevertheless was destructive with 585 decliners in comparison with 316 gainers amid a risk-off moof in equities.

International equities are monitoring US markets decrease following the Federal Reserve’s minutes that indicated a extra aggressive method to financial tightening, elevating fears of slower financial progress.

In native shares, banks turned decrease with Maybank falling 5 sne to RM8.84, Public Financial institution dipping three sen to RM4.68 and CIMB shedding one sen to RM5.30.

Different laggards included Press Steel falling 9 sen to RM6.15 and Nestle dropping 90 sen to RM134.60.

Power and plantation counters went counter to the development, as Petronas Chemical substances jumped 25 sen to RM10.24, Kuala Lumpur Kepong gained 22 sen to RM26.94 and Sime Darby Plantation rose three sen to RM5.30.

Within the tech sector, MPI fell RM1.18 to RM35.52, Vitrox misplaced 20 sen to RM8 and D&O dropped 14 sen to RM4.51.

Prime actives had been SMTrack up 1.5 sen to 9.5 sen, MBSB gained 1.5 sen to 65.5 sen and Vizione including one sen to seven sen.

In main Asian markets, shares joined within the international selloff on renewed jitters over the Fed’s hawkish stance.

Japan’s Nikkei slumped 1.8%, South Korea’s Kospi shed 1.4% and China’s composite index misplaced 1%.

Hong Kong’s Dangle Seng slid 1.3% whereas Australia’s ASX200 fell 0.6%.


Source link

Leave a Comment