Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 22): The FBM KLCI fell 0.29 point in volatile trade on profit taking and as investors eyed the current financial reporting season in Malaysia.

At 5pm, the KLCI closed at 1,674.59. KAF Investment Funds Bhd chief investment officer Gan Kong Yik said the market saw profit taking among blue chips.

"While the regional markets were down in the (last) few days, the Malaysian market had been holding well, thus the market today saw some profit taking.

"Investors are digesting corporate earnings as well, thus there will be some adjustment for some counters," Gan told theedgemarkets.com.

Across Bursa Malaysia, 1.62 billion shares worth RM1.64 billion changed hands.

There were 468 gainers versus 364 decliners.

Export-driven stocks such as Top Glove Corp Bhd and PIE Industrial Bhd were among the top ten gainers. The leading decliner was British American Tobacco (M) Bhd.

The most-active stock was APFT Bhd.

The KLCI fell despite a rise in major Asian share markets. Japan's Nikkei 225 rose 0.9% while Hong Kong's Hang Seng added 0.93%

Asian share markets rose on Monday, extending last week's gains, as investors awaited a rush of February industry surveys to take the pulse of the global economy, while the sterling stumbled on concerns the UK might yet vote to leave the European Union, according to Reuters.

 

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