KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
KUALA LUMPUR (Oct 11): The FBM KLCI cut losses for a 3.92-point or 0.2% drop after index-linked IHH Healthcare Bhd's share price spiked in the final trading minutes.
At 5pm, the KLCI closed at 1,757.21 points while IHH rose 20 sen to RM5.91. IHH was Bursa Malaysia's third-largest gainer.
Earlier, telecommunication companies' (telco) shares weighed down the KLCI.
Besides telco stocks Axiata Bhd, Digi.Com Bhd, Maxis Bhd and Telekom Malaysia Bhd, shares of Genting Bhd and Genting Malaysia Bhd also contributed to KLCI's loss.
“There is concern that valuations are still running ahead of earnings as share prices have already run up a fair bit,” Areca Capital Sdn Bhd CEO Danny Wong said.
At 5pm, Genting Bhd shares fell 13 sen to close at RM9.50, Genting Malaysia dropped nine sen to RM5.27 while Digi was 10 sen lower at RM4.88.
Genting Bhd and Genting Malaysia were Bursa Malaysia's second and seventh largest decliners respectively. Digi was the fifth-largest decliner.
Across Bursa Malaysia, 3.18 billion shares were traded for RM2.31 billion. Gainers outpaced decliners at 395 and 384 respectively.
Most active was Key Asic Bhd with some 249 million shares transacted. The stock rose 10.5 sen to close at 27 sen.
Source: The Edge
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