Bursa Malaysia's benchmark FBM KLCI experienced mild profit-taking on Friday as US markets were closed for the Independence Day holiday. The closure of US markets led to a lack of direction for Bursa Malaysia, causing the FBM KLCI to stay muted. Apex Securities Research expects the key index to stabilize as volatility subsides. The lower liners may also see a pause in their rally as investors digest recent gains. The healthcare sector, particularly gloves, is expected to continue building on previous session gains due to reports of a measles outbreak in various regions. On the other hand, the construction sector is attracting quick profit-taking and showing signs of slight toppishness. At the opening bell, the FBM KLCI was down 0.99 points at 1,615.76, with profit-taking in Maybank leading the decline. Other stocks that experienced declines include Telekom Malaysia, YTL Power, YTL Corp, Toyo Ventures, Panasonic, and D&O. Active stocks included Orgabio, SNS Network, and HHRG. The closure of US markets and the absence of leads from there have contributed to the mild profit-taking on Bursa Malaysia. [3d4609d9]
The FBM KLCI may stay muted ahead of the weekend as US markets were closed overnight for the Independence Day holiday. Apex Securities Research expects the key index to stabilise as volatility subsides due to the closure in US markets. The rally in the lower liners may also take a pause as investors digest recent gains with a mild consolidation taking shape. The healthcare sector, especially gloves, is expected to build on previous session gains following reports of an outbreak of measles in Asia, Africa, Europe, the Middle East, and the US. The construction sector is turning slightly toppish and attracting quick profit-taking. At the opening bell, the FBM KLCI was down 0.99 points to 1,615.76, led lower by profit-taking in Maybank. Telekom Malaysia, YTL Power, and YTL Corp also experienced declines. Toyo Ventures, Panasonic, and D&O were among the decliners on the broader market. Orgabio, SNS Network, and HHRG were among the active stocks. The article provides updates on other business news and promotions. [3d4609d9]