KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
KUALA LUMPUR (March 29): The FBM KLCI fell 4.01 points or 0.2% on index-linked British American Tobacco (M) Bhd (BAT) and Petronas-related share losses.
BAT shares fell on speculation Malaysia may raise cigarette prices, a move which could affect BAT's sales volume. Petronas Dagangan Bhd and Petronas Gas Bhd shares declined on profit taking after both stocks rose yesterday.
At 5pm today, the KLCI closed at 1,750.41 points. BAT shed RM2.46 to RM45.44, Petronas Dagangan dropped 94 sen to RM23.90 while Petronas Gas was 16 sen lower at RM19.80.
BAT was Bursa Malaysia's top decliner. Petronas Dagangan and Petronas Gas were the second and eighth-largest decliners respectively.
“There was a knee-jerk reaction on BAT as a deputy minister had suggested that cigarette prices may be increased to RM21.50 per pack, while everyone will be monitoring how Petronas Dagangan will adjust to the weekly ceiling price (for petrol),” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
Across Bursa Malaysia, 3.4 billion shares worth RM2.63 billion were traded. Gainers outpaced decliners at 522 versus 402 respectively.
Source: The Edge
Comments
Post a Comment