Bursa Declines Further Amid Steady Foreign Outflows
KUALA LUMPUR: The Bursa Malaysia opened lower today, following the mixed performance of the Wall Street overnight, as market sentiments remained jittery amid high expectations and market valuations.
Market Performance
At 9:19 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.39 points to 1,598.81 from yesterday’s close of 1,603.20.
Market Breadth
Market breadth was negative, with losers outpacing gainers 225 to 219, while 345 counters were unchanged, 1,689 untraded, and 39 suspended.
Foreign Fund Flows
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that the market is experiencing persistent selling by foreign funds, which is rendering the local bourse short of liquidity.
US Market Performance
The Dow Jones Industrial Average ended lower, while the Nasdaq notched another record high, as many expect the US Federal Reserve to reduce interest rates underpinned by November’s consumer price index (CPI) figure that came in within expectations.
The November US CPI stood at 2.7%, higher from 2.6% the previous month. Core CPI, on the other hand, was sustained at 3.3% for three consecutive months from 3.2% in August, suggesting the inflation rate remained sticky.
Local Market Performance
Among the heavyweights, Maybank went down 2.0 sen to RM10.10, Public Bank eased 1.0 sen to RM4.60, CIMB gave up 2.0 sen to RM8.09, Tenaga Nasional and IHH Healthcare eased 10 sen each to RM13.66 and RM7.06 respectively.
Active Stocks
Zen Tech and Matang inched down 0.5 sen each to 0.5 sen and 8.0 sen, while TMK Chemical perked up 25 sen to RM2.00, Datasonic added 1.0 sen to 44 sen, and AIMFLEX was flat at 15 sen.
Index Performance
The FBM Emas index declined 23.74 points to 12,273.74, the FBMT 100 index erased 27.25 points to 11,952.06, the FBM 70 index shrank 21.78 points to 18,401.23, the FBM Emas shariah index shed 12.99 points to 12,256.25, and the FBM ACE index decreased by 1.17 points to 5,292.08.
Sector Performance
The financial services index slipped 74.24 points to 19,078.42, the plantation index trimmed 13.48 points to 7,627.71, the industrial products and services index lost 0.16 of-a-point to 173.84, but the energy index expanded 3.15 points to 825.44.
Conclusion
The Bursa Malaysia continues to decline amidst steady foreign outflows, with the FBM KLCI falling 4.39 points to 1,598.81. The market is experiencing persistent selling by foreign funds, rendering the local bourse short of liquidity.
FAQs
* What is the current market performance of the Bursa Malaysia?
The Bursa Malaysia opened lower today, following the mixed performance of the Wall Street overnight, as market sentiments remained jittery amid high expectations and market valuations.
* What is the current market breadth?
Market breadth is negative, with losers outpacing gainers 225 to 219, while 345 counters were unchanged, 1,689 untraded, and 39 suspended.
* What is the current performance of the US market?
The Dow Jones Industrial Average ended lower, while the Nasdaq notched another record high, as many expect the US Federal Reserve to reduce interest rates underpinned by November’s consumer price index (CPI) figure that came in within expectations.
* What is the current performance of the local market?
Among the heavyweights, Maybank went down 2.0 sen to RM10.10, Public Bank eased 1.0 sen to RM4.60, CIMB gave up 2.0 sen to RM8.09, Tenaga Nasional and IHH Healthcare eased 10 sen each to RM13.66 and RM7.06 respectively.