FBM KLCI ends higher but market breadth stays negative

  • Markets
  • Monday, 29 May 2023

KUALA LUMPUR: The FBM KLCI started off the week on a firm footing as the key index extended its gains on Monday.

At 5pm, the market bellwether added 1.95 points, or 0.14% to 1,404.93. The index had risen to an intraday high of 1,406.53.

Market breadth turned negative as losers outpaced gainers on a ratio of 376-to-449 stocks. Traded volumes stood at 2.73 billion shares valued at RM1.87bil.

The net selling by foreign investors on Bursa Malaysia stretched into its fifth consecutive week with net foreign outflows amounting to RM58.7mil, according to MIDF Research.

Local institutional investors turned net sellers last week at -RM32.4mil after four weeks of net buying while local retailers turned net buyers at RM91.1m last week after three weeks of net selling.

Malaysian Pacific Industries led the local bourse winners list, rising 88 sen to RM27.12. Kuala Lumpur Kepong rose 22 sen to RM21.86, PETRONAS Dagangan gained 20 sen to RM22.34 and Heineken added 18 sen to RM27.

Nestle slid RM1.90 to RM132.60, Dutch Lady fell 30 sen to RM25.52, Ayer eased 20 sen to RM6.90 and Carlsberg lost 20 sen to RM21.10.

On the external front, MSCI’s Asia ex-Japan stock index was higher by 0.13%.

Japan’s Nikkei 225 advanced 1.03% to 31,233.54 while South Korea’s Kospi closed up 0.16%, at 2,558.81.

Hong Kong’s Hang Seng ended 1.04% lower at 18,551.11 and China’s CSI300 index fell 0.44% to 3,833.94.

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Bursa Malaysia , KLCI , FBM KLCI


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