M+ Market Wrap - 28 Jan 25
FBM KLCI: 1,552.69 pts (-6.28pts, -0.40%)
Mirroring the softer tone of the US market performance, the FBMKLCI (-0.40%) closed lower, dragged down by ongoing selling pressure on YTLPOWR (-11.0 sen) and YTL (-3.0 sen), as sentiment weakened after the low-cost AI model from the Chinese startup DeepSeek climbed to the top of Apple’s App Store, sparking concerns over the overstretched valuation of technology stocks. Market breadth was negative, with 537 losers against 372 gainers. In the broader market, the Plantation sector (+1.11%) outperformed, led by SDG (+30.0 sen) and KLK (+26.0 sen), while the Utilities sector (-1.74%) declined the most.
Top 3 Active stocks:
YTLPOWR (6742): RM3.110 (-11.0 sen)
NATGATE (0270): RM1.790 (-9.0 sen)
YTL (4677): RM1.900 (-3.0 sen)
Volume: 2.19 bn (100-bar avg vol: 2.98 bn)
Value: RM2.01 bn (100-bar avg val: RM2.73 bn)
Market Breadth: ⬆️372 ⬇️537
Crude palm oil: RM4,264 (+RM46)
Dow Futures: 44,907 pts (+3 pts)
**Source: Bloomberg, M+ **
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