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KUALA LUMPUR (Dec 24): The FBM KLCI broke the regional trend and ended in negative territory today as investors chose to withdraw money after yesterday’s gains.
The benchmark index closed 0.38% or 6.33 points lower at 1,641.17.
Investors unloaded their holdings before the long Christmas weekend, referrer Jeffry Azizi Jaafar told theedgemarkets.com.
He said sentiment was cautious as Covid-19 cases in the country remained high, especially among foreign workers.
Jeffry expects the KLCI to keep quiet next week in the absence of decorating activities.
In the broader market, 587 counters finished lower versus 514 winners, while another 480 were unchanged.
A total of 6.67 billion securities worth RM2.83 billion were traded. This is the lowest trade value since October 1, when it stood at RM2.61 billion.
Yesterday 6.31 billion values changed from hnads to a total value of RM3.41 billion.
The blue chips that dragged the KLCI included glove heavyweights Top Glove Corp Bhd (-3.57% or 24 sen at RM6.49), Hartalega Holdings Bhd (-1.1% or 14 sen at RM12.58) and Supermax. Corp Bhd (-1.59%) or 11 sen at RM6.81).
The blue chip sell-off also spread to Genting Bhd (-1.55% or seven sen at RM4.46) and Genting Malaysia Bhd (-1.12% or three sen at RM2.66).
The one that declined the most was Panasonic Manufacturing Malaysia Bhd, which fell 34 sen or 1.1% to RM30.58. Other declines were Hengyuan Refining Co Bhd, Petron Malaysia Refining & Marketing Bhd, Mi Technovation Bhd, AEON Credit Service (M) Bhd, Gets Global Bhd, and Batu Kawan Bhd.
Meanwhile, the main winners of the day were Fraser and Neave Holdings Bhd, Nestlé (Malaysia) Bhd, KPower Bhd, JF Technology Bhd, Malaysia Pacific Industries Bhd and Kuala Lumpur Kepong Bhd.
The list of assets was led by AT Systematización with 710.49 million shares traded. It closed two sen at 18.5 sen.
Other active stocks include Iris Corp Bhd, Marine & General Bhd, Techna-X Bhd, Fintec Global Bhd, MNC Wireless Bhd, SYF Resources Bhd, and Lion Industries Corp Bhd.
Among other Asian stock indices, Japan’s Nikkei 225 rose 0.54%, Seoul’s Kospi added 1.7% and Hong Kong’s Hang Seng Index gained 0.16%, while the Shanghai Composite Index it closed with a fall of 0.57%.
Reuters reported that Asian stocks rose ahead of the Christmas holidays as Britain and the European Union moved closer to a free trade deal and investors gambled on the prospects for a global economic recovery.
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