No reprieve from selling pressure

  • Markets
  • Thursday, 01 Jun 2023

KUALA LUMPUR: The losses on Bursa Malaysia are stacking up as the selling continued following Thursday's opening bell.

At 9am, the benchmark FBM KLCI was down 3.82 points to 1,383.30 amid ongoing uncertainty as US policymakers prepare for a final vote to push a deal through at the House of Representatives that would avert a catastrophic default.

On Bursa Malaysia, investors digested recent eanrings results following the end of the first-quarter reporting period, which has left observers underwhelmed.

Commodities and plantations stocks continued to see selling pressure with PETRONAS Chemicals sliding nione sen to RM6.57 and Sime Darby Plantation falling four sen to RM4.18.

Bank counters were mixed with Maybank slipping four sen to RM8.61 while CIMB rose one sen to RM4.83 and Hong Leong Bank added two sen to RM19.34.

IHH Healthcare meanwhile was up seven sen to RM5.84.

Among other notable decliners were gamuda falling 15 sen to RM4.29, Hextar Technologies shedding 18 sen to RM24.72 and Can One dropping 10 sne to RM2.82.

Starting on the ACE Market today, Synergy House was Bursa Malaysia's most actively traded counter amid a flurry of interest.

However, selling pressure got the better of the stock, which was down six sen to 37 sen on the back of 43 million shares traded.

Other top actives were Classita up one sen to 12.5 sen and Alam Maritim down 0.5 sen ot 2.5 sen.

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