Bursa turns mildly decrease in consolidation mode

KUALA LUMPUR: Bursa Malaysia turned barely adverse because it tracked Wall Road decrease in early commerce amid developments within the Russia-Ukraine battle.

At 9.05am, the FBM KLCI was down 0.37 level to 1,582.85. There have been 122 decliners to 119 gainers, giving the market a adverse market breadth.

The Dow Jones snapped a four-day successful streak in a single day on uncertainties over the provision of crude oil.

Germany had warned of rising provide disruptions in Europe as Moscow might minimize pure fuel deliveries following Europe’s rejection of a requirement that deliveries be paid in rubles.

In the meantime, negotiations between Ukraine and Russia remained at a stalemate, including to the probability of continued volatility within the world financial system and equities markets.

“As prospects of ending the Russia-Ukraine battle remained unsure following the little progress made on the peace talks earlier, we opine that the market will stay in a consolidation part a minimum of over the close to time period.

“Nonetheless, buyers might concentrate on the reopening of borders in April and the declining Covid-19 instances on the native entrance; these might present potential buying and selling alternatives throughout the recovery-themed shares,” mentioned Malacca Securities Analysis in a word.

Financial institution shares have been largely decrease with Public Financial institution Financial institution falling one sen to RM4.64, IMB dropping two sne to RM5.31 and Hong Leong Financial institution shedding six sen to RM20.10.

IHH was down two sen to RM6.14, Axiata fell three sen to RM3.75 and Kuala Lumpur Kepong dropped 10 sen to RM25.08.

MPI fell 24 sen to RM35.98, PPB shed 14 sen to RM16.92, and MAHB slid 11 sen to RM6.84.

High actives have been CapitaLand up 0.5 sen to 75.5 sen, Saura Power down 0.5 sen to three.5 sen and Tanco rising two sen to 36.5 sen.


Source link

Leave a Comment