Friday 29 Mar 2024
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KUALA LUMPUR (Oct 26): The FBM KLCI closed at 1,683.06 points today, down 49.08 points or 2.83% for the week no thanks to current weak sentiment globally.

"I don't think we've seen the bottom yet," said TA Securities senior technical analyst Stephen Soo, who opined that the choppiness seen in the local market is set to continue into next week.

Share prices across the board were mixed with 414 losers versus 347 gainers. Total trading volume dropped below two billion mark at 1.82 billion for RM1.68 billion.

Most actively traded counters were Seacera Group Bhd, Gamuda Bhd and Nova MSC Bhd, while top decliners were KESM Industries Bhd, Ajinomoto (Malaysia) Bhd and Malaysian Pacific Industries Bhd.

Gainers were led by Selangor Properties Bhd, which announced a proposed selective capital repayment scheme to pave the way for privatisation, British American Tobacco (Malaysia) Bhd and Batu Kawan Bhd.

Globally, stocks have been sliding towards their worst week in more than five years, fueled by concerns over corporate earnings results and global trade and economic growth, Reuters reported.

Asian shares were on track for their fifth weekly loss based on the MSCI Asia index, which has fallen more than 4% this week, the newswire said.

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