KLCI ends four-day win streak, dragged by telcos

TheEdge Wed, Feb 21, 2024 06:14pm - 1 month View Original

KUALA LUMPUR (Feb 21): The FBM KLCI retreated on Wednesday, paring gains from a 20-month high achieved a day earlier, dragged by declines of telco-linked consitituents.

The bellwether index declined 3.19 points or 0.21% to close at the 1,552.4 level on Wednesday after trading between 1,547.49 and 1,554.95.

Among KLCI index constituents, telco counters were top laggards, with Axiata Group Bhd falling 3.46%, followed by Maxis Bhd (1.81%) and CelcomDigi Bhd (1.37%).

Nonetheless, the KLCI was largely in line with laggards in the region, although there were a few slight gainers. 

Overall market breadth was negative as 386 stocks advanced, 652 retreated and 459 traded sideways, with 3.65 billion shares worth RM2.71 billion changing hands.

The Stock Exchange of Thailand Index gained 0.83%, followed by the Philippines Stock Exchange Index (0.62%), while the Jakarta Composite was down 0.05% as was the Straits Times Index by 0.84%. 

The most actively traded counters on the bourse were Hong Seng Consolidated Bhd, which ended unchanged at two sen, followed by MyEG (down 1.27% at 78 sen) and MMAG Holdings Bhd (unchanged at 11 sen).

The FBM Top 100 Index slipped 0.20%, outperforming the FBM Small Cap (down 0.76%) and FBM Ace (down 0.88%) indices. 

The bulk of sectoral indices were in the red, barring technology (up 0.36%) and financial services (up 0.13%).

The energy index — which surged 5.98% to a near three-year high on Tuesday — was the top loser on Wednesday, as it eased 1.29%. The property index was a close runner-up, dipping 1.28%.

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