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Bursa Malaysia end mixed on first trading day

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KUALA LUMPUR: Bursa Malaysia ended the first trading day of 2022 on a mixed note as the key index remained in negative territory on the back of continuous selling among the heavyweights, while on the broader market, gainers outnumbered losers.

Selling among the heavyweights was led by Top Glove and telecommunication stocks amidst profit-taking and concerns over the COVID-19 Omicron’s impact. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI fell 18.48 points or 1.17 per cent to end at 1,549.05 compared with 1,567.53 at Friday's close. The index opened 13.89 points lower at 1,553.64 and moved between 1,545.53 and 1,556.28 throughout the day.

Market breadth turned positive with gainers leading losers 485 to 436, while 363 counters were unchanged, 990 untraded and 15 others suspended. "As such, we expect the FBM KLCI to trade range bound and hover within the 1,540-1,560 range for the remainder of the week,” he told Bernama, adding that immediate support is located at 1,530 and resistance at 1,570.

Conversely, the FBM ACE surged125.67 points to 6,545.27 and the FBM 70 gained 15.89 points to 14,225.85.

 

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