KLCI slips at opening bell after hot US inflation fuels rate hike fears

Résumé détaillé

Bursa Malaysia opened lower on Wednesday, tracking US Wall Street’s decline after US October inflation data heightened concerns over ...

KUALA LUMPUR, Nov 11 — Bursa Malaysia opened lower on Wednesday, tracking US Wall Street’s decline after US October inflation data heightened concerns over inflationary pressures.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.94 points to 1,600.13 from yesterday’s close of 1,604.07.

Market breadth was negative, with losers outpacing gainers 145 to 136, while 260 counters were unchanged, 2,774 untraded and 12 suspended.

The media reported that the US Consumer Price Index (CPI) rose 0.4 per cent month-on-month in October, above the consensus estimate of 0.3 per cent.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the data came in hotter than expected, increasing the possibility of a December rate hike.

It was also reported that US Federal Reserve (Fed) governor Christopher Waller indicated that a 50-basis-point hike could happen when the Federal Open Market Committee members reconvene on Dec 8 and 9.

Nevertheless, market sentiment remained cautious, although some bargain hunting was expected to emerge in the near term, with the index likely to trade within the 1,600 to 1,615 range today, he said.

Among the heavyweights, Maybank was down four sen to RM10.02, CIMB dropped six sen to RM7.02, and Tenaga Nasional lost 16 sen to RM13.02. Public Bank was two sen higher at RM4.70, and IHH Healthcare rose 15 sen to RM7.89.

In active trade, ACE debutant SKA Capital surged 13.5 sen to 56.5 sen, MMAG Holdings climbed one sen to four sen, Ni Hsin Group gained half-a-sen to 10 sen, GIIB Holdings expanded two sen to 14 sen, while Zetrix AI shed half-a-sen to 5.5 sen.

Début de l'article, extrait de Malay Mail. Pour lire la suite, ouvrez l'article chez le média.