M+ Online Market Wrap - 23 May 23

FBM KLCI: 1,411.54 pts (-7.46 pts, -0.53%)

The FBM KLCI (-0.53%) remained subdued as investors stayed cautious despite the resumption of the US debt ceiling discussion; we believe the market could be pricing in the concerns over the political developments for now. Market breadth remained negative as the decliners trounced the advancers by 517-to-317 stocks. The technology sector (-1.38%) was the biggest declining sector led by INARI (-6.0 sen), UWC (-20.0 sen) and UNISEM (-10.0 sen). Meanwhile, the healthcare (+0.50%), transportation (+0.36%) and REITs (+0.22%) gained momentum throughout the session. 

Top 3 Active stocks:
REVENUE (0200): RM0.285 (-1.5 sen)
TWL (7079): RM0.04 (-0.5 sen)

BAHVEST (0098): RM0.16 (+0.5 sen)

Volume: 2.46 bn (100-day avg vol: 3.18 bn)
Value: RM1.66 bn (100-day avg val: RM1.95 bn)
Market Breadth: ⬆️317 ⬇️517
Crude palm oil: RM3,399 (-RM29)

Dow Futures: 33,295 pts (-65 pts)

Source: Bloomberg, M+ Online

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