Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
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

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