FBM KLCI falls for third straight day, down 7.46 points

TheStar Thu, Jun 17, 2021 05:37pm - 1 month ago View Original

KUALA LUMPUR: The FBM KLCI closed in the red, its third straight session in negative territory after the US Federal Reserve brought forward its outlook for an interest rate increase.

At 5pm, the market's key barometer lost 7.46 points or 0.47% to finish at 1,570.86. The index opened 0.43 of-a-point higher at 1,578.75 this morning.

Market breadth turned negative as losers overpowered the gainers on a ratio of 611-to-361 stocks. Traded volumes stood at 4.26 billion shares worth RM2.74bil.

Dealers said investors were concerned about the outcome of the FOMC meeting. The U.S. Federal Reserve signalled it might raise interest rates earlier than expected.

Among the 30 FBM KLCI constituents, Hong Leong Financial Group fell 18 sen to RM17.90, MISC shed 18 sen to RM6.93 and Press Metal declined 14 sen to RM4.77.

Supermax and Hartalega fell seven sen each to RM3.63 and RM8.29 respectively. Top Glove lost three sen to RM4.63.

Among the banks, Maybank closed unchanged at RM8.17, Public Bank declined two sen to RM4.19, CIMB ended unchanged at RM4.63 and RHB Bank added two sen to RM5.40.

On the broader market, Panasonic Manufacturing jumped 40 sen to RM33.20, JcbNext, hit limit up, added 39 sen to RM1.69 and Edaran rose 30 sen to 90.5 sen.

MPI, Transocean, Computer Forms and Carlsberg are among the top losers on Bursa Malaysia.

Meanwhile, Reuters reported that crude oil prices dipped on Thursday as a stronger US dollar brought them off multi-year highs.

Brent crude oil futures dropped 33 cents, or 0.4%, to US$74.06 a barrel by 0836 GMT. They hit their highest since April 2019 in the previous session.

US crude oil futures inched down 28 cents, or 0.3%, to US$71.87 a barrel.

Asian bourses closed mixed today, with Japan's Nikkei 225 losing 0.93%, South Korea’s Kospi fell 0.42%, Hong Kong’s Hang Seng added 0.12% and China’s Shanghai Composite added 0.2%.

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