KLCI snaps out of winning streak

KUALA LUMPUR: Despite opening higher at the start of the opening bell, the FBM KLCI succumbed to profit taking activities on Wednesday.

The key index closed down 1.09 points, or 0.07% to 1,563.2 after moving between 1,567.35 and 1,555.70.

On the broader market, gainers trounced losers by 569 to 389, while 404 counters were unchanged. About 3.36 billion shares, valued at RM1.9bil, changed hands.

According to data on Bursa Malaysia, foreign investors acquired RM172mil worth of equities on Tuesday.

Local institutions and retailers sold equities worth RM168mil and RM4mil respectively.

Among the 30 FBM KLCI constituents, PPB group added 16 sen to RM16.66, Petronas Chemicals rose 10 sen to RM9, Petronas Dagangan gained eight sen to RM19.74 and Press Metal climbed seven sen to RM6.09.

Public Bank added two sen to RM4.25, Genting rose one sen to RM4.71 and Hartalega gained five sen to RM5.89.

Hong Leong Bank shed 20 sen to RM19.70, Hong Leong Financial Group fell 18 sen to RM18.70, Maybank lost nine sen to RM8.41 and CIMB declined six sen to RM5.56.

On the broader market, MPI added 44 sen to RM47, PMB Technology gained 38 sen to RM12.76 and LPI advanced 22 sen to RM14.42.

Elsewhere in the region, Japan’s Nikkei Stock Average advanced 1.92%, Hong Kong’s Hang Seng Index rose 2.79%, South Korea’s Kospi rose 1.54% and China’s CSI300 added 1%.