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.

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FBM KLCI , Bursa Malaysia , GDP , KLCI

   

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