KUALA LUMPUR (March 12): The FBM KLCI continued to extend its losses today, finishing 0.84% or 13.72 points lower at 1,615.69.
According to Rakuten Trade Research head of equity sales Vincent Lau, the index was down due to profit taking ahead of the weekend amid mixed performances regionally.
Specifically, Supermax Corp Bhd, CIMB Group Holdings Bhd and Top Glove Corp Bhd posted declines today. While the FBM KLCI declined, indices such as the FBM ACE, FBM Small Cap and FBM Fledgling indices posted gains.
The FBM ACE was up 2.13% or 222.07 points higher at 10,665.19, while the Small Cap was up by 0.19% or 31.13 points at 16,806.82. Meanwhile, the Fledgling Index finished 0.77% or 164.52 points higher at 21,551.02.
On the local market, top actives included Dagang NeXchange Bhd (DNeX), EA Holdings Bhd and XOX Bhd. The top gainers were Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd and Hong Leong Industries Bhd, whereas KESM Industries Bhd, Heineken Malaysia Bhd and Sarawak Oil Palms Bhd topped the list of losers.
The decline seen in the KLCI today was in line with mixed performances demonstrated by other leading bourses in the region.
While the Nikkei 225 closed 1.73% or 506.19 points higher at 29.717.83, Hong Kong’s Hang Seng Index closed 2.20% or 645.89 points lower 28.739.72. In contrast, the Shanghai Composite eked a 0.47% or 16.25-point gain at 3,453.08.
Reuters reported that most emerging Asian stocks climbed today and were set for strong weekly gains as US stimulus measures and easing bond yields lifted sentiment.
“Global markets received a boost after US President Joe Biden signed a US$1.9 trillion (RM7.82 trillion) stimulus bill into law and as a dovish European Central Bank (ECB) meeting triggered a retreat in bond yields,” it said.- The Edge Market