KLCI drifts lower ahead of 2Q GDP data

KUALA LUMPUR: The FBM KLCI closed lower on Thursday, in cautious trading ahead of the release of second quarter gross domestic product (GDP) data tomorrow.

At 5pm, the 30-stocks index stood at 1,501.97, down 2.47 points, or 0.16%. The index opened 0.85 of-a-point higher at 1,505.29 and moved between 1,505.29 and 1,497.18 throughout the day.

Market breadth turned negative as losers overpowered the gainers on a ratio of 576-to-384 stocks. Traded volumes stood at 3.44 billion shares worth RM2.26bil.

In today’s session, 16 of the KLCI-component stocks closed lower while nine counters declined while five counters remained unchanged.

Dealers said the performance of the local bourse was in line with its regional peers and expected market sentiment to remain cautious due to recent political developments.

The country’s economy is seen growing 14.3% year-on-year between April and June, according to the median estimate of a Reuters poll of 20 economists.

Malaysia's economy contracted 0.5% in the first quarter.

On Bursa Malaysia, Kobay was the top gainer, rising 47 sen to RM5.05, followed by Malaysian Pacific Industries, which added 36 sen to RM43.86, and Malaysia Smelting Corp, which rose 15 sen to RM2.21.

ViTrox, Genetec, Kuala Lumpur Kepong, and Heineken are among the top losers on Bursa Malaysia.

Among the KLCI component stocks, Hartalega added 11 sen to RM7.05, Nestle rose 10 sen to RM133.30, Petronas Dagangan gained 10 sen to RM18.60 and Maxis climbed four sen to RM4.34.

Among the key regional markets:

Japan’s Nikkei 225 fell 0.2% to 28,015.02;

Hong Kong’s Hang Seng Index declined 0.53% to 26,517.82;

Shanghai Composite Index shed 0.22% to 3,524.74;

Taiwan’s Taiex gave up 0.04% to 17,219.94;

South Korea’s Kospi lost 0.38% to 3,208.38 and;

Singapore’s Straits Times Index added 0.09% to 3,182.80 points.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

FBM KLCI , Bursa Malaysia , GDP , KLCI


Next In Business News

Geely's Volvo Cars sets IPO price range, seeking up to US$23bil valuation
Inari signs MoU with a private equity fund in China to expand OSAT business
ES Ceramic posts strong Q1 growth
Southern Cable bags RM18.5mil TNB contract
Sunway Malls to launch Sunway eMall.com to boost presence
MIDA, MEDEF ink MoU on collaborative efforts
Car sales revved up in September as curbs lifted
German-based H&R to invest RM200mil in speciality plant in Perak
IOI Investment offers to purchase US$600m debt notes
Straits Energy Resources unit to acquire RM14.5mil oil tanker

Others Also Read