Index To Hover Within 1,385-1,400 Range

We anticipate the index to hover within the 1,385-1,400 range today. Meanwhile the crude palm oil eased to RM3,650/tonne on higher inventory level." according to Rakuten.

Index To Hover Within 1,385-1,400 Range
Photo by Paweł Szymankiewicz / Unsplash

The FBM KLCI declined to a fresh YTD low following the regional downtrend on Monday.

"We reckon selling to persist on Technology stocks but expect some bargain hunting to emerge today on the index-linked counters.

"Therefore, we anticipate the index to hover within the 1,385-1,400 range today. Meanwhile the crude palm oil eased to RM3,650/tonne on higher inventory level." according to Rakuten.

On Tuesday, FBM KLCI closed sharply lower as a result of global market selldown. The benchmark index tumbled 1.36% or 19.18 points to end at 1,386.82 with losers led by NESTLE, KLK and PETGAS.

Market breadth was negative with 786 losers against 197 gainers. Total volume stood at 2.35bn shares valued at RM1.86bn.

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Wall Street closed mixed following a choppy session as traders await for CPI data which is to be out tomorrow. The DJI Average gained 36 points while the Nasdaq lost 116 points as the US 10-year yield edged nearer to the 3.95% mark.

Benchmark Index Tumbled

FBM KLCI closed sharply lower as a result of global market selldown. The benchmark index tumbled 1.36% or 19.18 points to end at 1,386.82 with losers led by NESTLE, KLK and PETGAS.

Market breadth was negative with 786 losers against 197 gainers. Total volume stood at 2.35bn shares valued at RM1.86bn.

Key regional markets closed mostly lower tracking overnight losses on Wall Street. Nikkei 225 lost 2.64% to close at 26,401.25 while STI closed 0.08% lower at
3,105.00.

HSI dived 2.23% to end at 16,832.36 while SHCOMP gained 0.19% to end at 2,979.79.

Wall Street closed mixed after a choppy trading session. The DJIA added 0.12% to close at 29,239.19. S&P500 and Nasdaq slumped 0.65% and 1.10% to finish down at 3,588.84 and 10,426.19 respectively.

On Tuesday, key regional markets closed mostly lower tracking overnight losses on Wall Street. Nikkei 225 lost 2.64% to close at 26,401.25 while STI closed 0.08% lower at 3,105.00.

HSI dived 2.23% to end at 16,832.36 while SHCOMP gained 0.19% to end at 2,979.79. Wall Street closed mixed after a choppy trading session. The DJIA added 0.12% to close at 29,239.19. S&P500 and Nasdaq slumped 0.65% and 1.10% to finish down at 3,588.84 and 10,426.19 respectively.