Bursa Malaysia’s key index, the FBM KLCI closed in the red, visibly impacted by a downturn in financial services and utilities. Of the 30-stock’s on the index, only 3 managed to end the day in the green. Unsurprisingly then, the market saw a pullback, shedding 9 points, or 0.57% but holding the 1,630 level to close at 1,632.
The financial services and utility sectors, typically considered defensive by nature, surprisingly headed the retreat, suggesting a broader risk-off sentiment among the market participants.
IHH Healthcare Berhad was a notable gainer on the day, adding 2.77%. At the other end of the scale, YTL Power International Berhad saw a drop of 6.4%, whilst YTL Corporation Berhad’s 4.05% dip, and PETRONAS Chemicals Group Berhad’s -3.01% rounded out the bottom three.
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The digital currency market countered the reserved mood of the broader financial markets, with the leading cryptocurrencies witnessing slight variations. Bitcoin, the bellwether of the cryptocurrency market offered gains, where Ethereum, another heavyweight in the digital currency space dipped.
The day’s trading session saw a tempered performance from Malaysian equities, specifically within financial services and utilities, while cryptocurrency movement reflected a similar modest downturn.
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