KLCI remains in negative zone on regional weakness

KLCI remains in negative zone on regional weakness

KUALA LUMPUR: The FBM KLCI remained in detrimental territory at midday on Thursday in line with the regional downtrend after the Federal Reserve raised US interest rates.

At 12. 30pm, the 30-stock index closed down five. 84 points, or 0. 4% to 1, 441. 34.

Market breadth continued to be negative with 456 losers and 280 gainers, while 340 counters traded unchanged. Volume stood on 1 . 19 billion shares valued in RM774. 08mil.

The Federal Arrange raised its standard rate by seventy five basis points, the 3rd hike in a line.

Overnight, the particular Dow Jones Industrial Average slid 522. 45 points, or even 1 . 7%, to close at thirty, 183. 78. The particular S& P 500 shed 1 . 71% to 3, 789. 93, and the Nasdaq Composite slumped 1 . 79% to 11, 220. 19.

Mercury Securities expects Malaysian equities to semester following steep losses on Wall Street overnite as the market feels that it is likely the fact that another large monthly interest hike is in the handmade cards for the US Federal Reserve.

Hong Leong Investment Creditor Research said following your uptrend line together with multiple key MA supports breakdown, your bears are in overall

control right after violating another significant support at 9, 453 (61. 8% FR) yesterday, simply because benchmark ended -13. 9 pts to at least one, 447. 2 .

“We reiterate that an extended downward merging may prevail inside our envisaged 1, 436 (76. 4% FR), 1, 418 in addition to 1, 408 (25M low) s upports unless KLCI may swiftly reclaiming earlier 1, 453, 8, 468 (50% FR) and 1, 325 (downtrend line) difficulties, ” it talked about.

On Bursa Malaysia, Nestle wheeled RM2 to RM128, Nederlander Lady eased 50 sen to RM31. ten, Panasonic Manufacturing lost 50 sen to RM23. 80 and PPB lost his balance 40 sen to RM15. 86.

PETRONAS Gas went up 26 sen to be able to RM16. 66, Harrisons added 15 sen to RM6. 89, PETRONAS Dagangan acquired 14 sen in order to RM21. 34 and SFP Tech climbed 13 sen to RM1. 84.