Friday 29 Mar 2024
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KUALA LUMPUR (Feb 24): The FBM KLCI fell 6.13 points or 0.4%, partly on Axiata Group Bhd share losses. But late buying of Malayan Banking Bhd (Maybank) shares helped the KLCI cut losses.

At 5pm, the KLCI ended at 1,698.35 points, after falling to its intraday low at 1,696.48 points. 

Axiata dipped 24 sen to close at RM4.29, to become Bursa Malaysia's fourth-largest decliner. The mobile telecommunication network provider reported a fourth quarter (4Q) net loss of RM309.5 million, versus a net profit of RM467.24 million a year earlier.

Maybank shares added 20 sen to RM8.60, after the group said 4Q net profit rose to RM2.36 billion, from RM1.65 billion a year earlier. 

On the KLCI, fund managers said sentiment was cautious ahead of next week's trade, in anticipation of major companies' earnings announcements.
 
“I am cautious for the trading next week, as there are still some heavyweight counters that have yet to report fourth quarter earnings,” Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com.

Across Bursa Malaysia today, trading volume was 3.01 billion shares, worth RM2.56 billion. 

There were 530 decliners and 358 gainers. 

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