FBM KLCI declines 7.5 points; almost 1,000 stocks in red

KUALA LUMPUR: Share prices on Bursa Malaysia ended lower, mirroring regional equity performances on continuous profit-taking in index-linked stocks.

The FBM KLCI ended 7.5 points, or 0.48% lower at 1,557.55, its intraday-low. The index hit a high of 1,581.55 points. It opened 5.96 points higher at 1,571.01 this morning.

Losers hammered gainers 995 to 332 and 404 counters unchanged. Turnover stood at 12.7 billion shares valued at RM7.01bil.

Stock market data on Bursa Malaysia showed foreign funds were net sellers at RM128mil. Local institutions were net sellers at RM29mil and retail investors were net buyers at RM167mil on Tuesday.

At the same time, gold and other safe havens trade lower. Spot gold fell 0.01% to US$1,805.50 per ounce while spot silver rose 0.02% to US$27.72 per ounce.

Reuters reported that MSCI’s broadest index of Asia-Pacific shares outside Japan deepened losses with a near 2% drop.

Japan’s Nikkei 225 slipped 1.61% to 29,671.70, falling below the psychologically important mark hit last week.

South Korea's Kospi closed down 75.11 points, or 2.45%, at 2,994.98.

Hong Kong’s Hang Seng index closed down 2.99% at 29,718.24, its biggest daily percentage drop since May 22, 2020.

At closing, the Shanghai Composite Index sank 2% to 3,564.08 while the CSI300 slid 2.55% to 5,437.57.

At Bursa Malaysia, MPI tumbled RM1.32 to RM35.06, Carlsberg declined 70 sen to RM23.30, Hartalega shed 66 sen to RM10.40 and Top Glove fell 44 sen to RM5.23.

Euro Holdings, the top gainer on Bursa Malaysia jumped 16.67%, or 65 sen to RM4.55. KLK added 24 sen to RM23.46, Press Metal gained 23 sen to RM8.95, AYS advanced 21 sen to RM4.57.

Among the actively-traded stocks, XOX added 0.5 sen to 9.5 sen with 691.4 million shares traded. Metronic closed unchanged at 10 sen with 571.4 million shares exchanged hands. YKGI jumped 48.57%, or 8.5 sen to 26 sen with 550 million shares done.

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