KLCI pares loss, stays in purple as banks drag

KUALA LUMPUR: The FBM KLCI pared a few of its loss however was nonetheless within the purple at noon dragged by the decline in Maybank Public Financial institution and Tenaga.

At 12.30pm, the FBM KLCI retreated 3.79 factors to 1,587.54. Turnover amounted to 1.4 billion shares price RM1.07bil.

In a observe as we speak, Malacca Securities mentioned buyers might deal with the growing prospect of an early normal election in Malaysia.

“Commodity smart, oil worth traded above US$100 per barrel amid the unresolved Russia-Ukraine pressure, whereas the CPO worth hovered round RM5,600,” it mentioned.

The analysis home added that oil and fuel counters might prolong their features as crude oil costs remained agency above the US$100 per barrel mark.

“In addition to, buyers might put building shares on the radar following the anticipation of an early election in Malaysia in direction of 2H22,” it added.

In the meantime, Rakuten Commerce reckoned that the index to development inside a variety of between 1,580-1,600 as we speak as market volatility heightens.

Maybank fell 11 sen to RM8.91, pushing the index decrease by 1.9647 factors.

Public Financial institution declined seven sen, dragging the index 2.0431 factors decrease whereas Tenaga misplaced 16 sen to RM9.26, nudging the index decrease by 1.3776 factors.

Among the many losers on Bursa Malaysia, Chin Tek fell 28 sen to RM7.98, Kuala Lumpur Kepong misplaced 28 sen to RM25.02, Nestle shed 20 sen to RM135.90 and Hap Seng declined 18 sen to RM7.58.

Malaysian Pacific Industries surged RM2.88 to RM36.68, F&N gained 72 sen to RM21.92, Heineken added 68 sen to RM22.36 and Kobay rose 55 sen to RM4.05.


Source link

Leave a Comment