FX.co ★ Kuala Lumpur Stock Market Review

KLCI ended slightly up 0.37% at 1,176.90 in tepid volume but was lower most of the session on profit-taking across all the sectors. In particular, big-caps underwent selling pressure from retails investors due to technical factors that suggest that more weakness is coming. Then, corporate results were worse-than-expected and weighted additionally on the market sentiment.
In general, the benchmark index moved within tight range as investors still sat on the sidelines and did not want to open strategic positions due to mixed data.
Among decliners are Genting Malaysia down 0.7% at MYR2.78, Tenaga down 1.1% at MYR8.01, Bursa Malaysia down 0.2% at MYR7.75. Among gainers are Burmiputra-Commerce +0.4% at MYR10.40, Petra Perdana +4.0% at MYR2.59, Eon Capital +3.0% at MYR5.21.
Malaysia government bonds were steady despite better-than-expected 2Q GDP results. Investors simply ignored that positives signs.

Best regards,

Analyst: Vladimir Donin