Stocks: Bargain Activities Expected

The FBM KLCI was also affected by the regional weaknesses affected by the property scene in China.

“In view of the change in sentiment to cautious mode, we reckon the index to trend within the 1,450-1,460 range today as some bargain hunting activities may emerge.

“On a more positive note, we noticed volume traded on the local bourse remained elevated at above 4bn shares,” Rakuten says.

Stocks lower

FBM KLCI closed lower in tandem with the negative performance of regional bourses.

The benchmark index lost 0.54% or 7.89 points to end at 1,454.83. Losers were led by MISC, SIMEPLT and KLK. Market breadth was negative with 689 losers against 309 gainers. Total volume stood at 4.09bn shares valued at RM2.39bn.

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