FBM KLCI hovers below 1,400 points as trading sentiment remains soft

  • Markets
  • Tuesday, 30 May 2023

KUALA LUMPUR: Bursa Malaysia ended the morning session below the 1,400 psychological support as investors continued to sell down equities amid poor sentiment.

At 12.30pm, the benchmark FBM KLCI was down 5.65 points to 1,399,28, in danger of ending the trading session below the technical support.

The broader markets was also weak with 423 decliners to 322 gainers.

Trading volume was 1.32 billion shares valued at RM910.97mil.

Press Metal was down 12 sen to RM4.78 while Tenaga Nasional dropped 17 sen to RM9.58 to drag on the blue-chip index.

Meanwhile, plantations stocks were also in the red with Kuala Lumpur Kepong falling 30 sen to RM21.56 and IOI sliding four sen to RM3.91.

Of actives, DNeX was up three sen to 42 sen, YTL gained two sen to 92 sen and Bahvest rose 2.5 sen to 22.5 sen.

Bursa's performance was at adds with that of key regional markets, which have rallied on the back of the US policymakers coming to agreement on raising the debt ceiling.

Japan's Nikkei gained 0.2% to 31,289 and South Korea's Kospi rose 0.7% to 2,576.

However, China's composite index slid 0.7% to 3,198 as industrial companies released disappointing earnings even as relations between Beijing and Washington continued to deteriorate.

Hong Kong's Hang Seng shed 1% to 18,369.

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