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Tag Archives: equities

FBM KLCI fails to extend bounce


KUALA LUMPUR: Despite ending a seven-day losing streak yesterday, investor sentiment on Bursa Malaysia remained weak on the back of lingering concern over China's real-estate crackdown as fears of a default by property giant China Evergrande.

At 9.05am, the FBM KLCI was down 9.45 points to 1,520.99, tracking the weak performance on Wall Street overnight.

The early-morning selling dampened hopes of continued bargain-hunting amid the government's gradual reopening of the economy, although there remains opportunity for prices to bounce higher later in the day.

"A mild extension of the rebound might take place in selected sectors as the government proposed three more destinations to be opened via domestic tourism bubble on the back of reducing active Covid-19 cases," said Malacca Securities Research in a note.

It said recovery theme sectors su

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Bursa Malaysia slides on regional weakness


KUALA LUMPUR: Bursa Malaysia fell in morning trade, tracking the sharp retreat on Wall Street overnight as a possible default by China Evergrande threatened to spill over into the global financial system.

The Chinese property giant has amassed debts of US$300bil and is facing deadlines for payments to banks and bondholders this week.

A potential default, according to analysts, will likely contribute to China's economic deceleration and derail global growth and inflation. Commodity prices are also expected to be negatively impacted.

Fears over a fallout are growing and affecting global investor sentiment. Bursa Malaysia, which had seen a return of foreign investors of late, recorded a second straight day of net foreign selling yesterday, to the tune of RM120.8mil.

At 9.05am, the FBM KLCI was down 6.34 points, putting the market on track to

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Bursa extends downtrend in early trade


KUALA LUMPUR: The market sentiment on the domestic market continued to sour at Monday's opening bell with the key FBM KLCI failing to rebound after six straight sessions of declines.

The benchmark index started on a slide, losing 0.89 point to 1,547.62 at the opening bell before turning lower.

At 9.05am, the FBM KLCI was down 4.07 points to 1,544.44.

The downtrend on Bursa Malaysia comes despite a return of foreign investors to the local market. Over the four trading days of the previous week, foreign funds recorded a net weekly inflow of RM126mil.

Local retailers registered net buying of RM212mil while domestic institutions net sold RM338mil in local equities.

After three straight weeks of losses, the market remains on shaky ground.

"There may still be some more downside risk ahead with the bears currently outnumbering the bul

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FBM KLCI opens on a flattish note


KUALA LUMPUR: The FBM KLCI started on a flattish note on Friday as it reopened for trading following the Sept 16 national holiday.

At 9.05am, country's benchmark index was up 0.8 points to 1,556.06.

After a decline over five straight sessions, the market appears due for a rebound amid an inflow of foreign funds.

Month-to-date foreign investors have recorded a net purchase of RM904.6mil in local equities, suggesting that the relaxation of the country's SOPs under the National Recovery Plan has rekindled foreign participation on the stock exchange.

On Wednesday, offshore funds were net buyers of RM76.9mil in Bursa equities. Local retailers recorded RM7mil net purchases while local institutions net sold RM83.9mil.

From a technical standpoint, Malacca Securities Research suggested the market was turning more negative as the daily moving

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