KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
KUALA LUMPUR (July 12): The FBM KLCI today closed 9.81 points or 0.59% lower on profit taking in an overbought Malaysian stock market and as investors took cue from US equity gains. CIMB Group Holdings Bhd shares fell.
At 5pm, the KLCI closed down at 1,669.45 on profit taking after the KLCI rose to its intraday high at 1,682.04.
“The market is using Wall Street as a guideline as it has set new highs. So, investors are now in a profit-taking position,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com today.
Earlier today, TA Securities Holdings Bhd wrote in a note: "While blue chips trade sideways on overbought momentum, resurgent trading interest in oil & gas related lower liners and small caps should encourage retail participation."
Across Bursa Malaysia, the exchange saw 2.94 billion shares worth RM2.28 billion traded. Among the KLCI's 30 component stocks, CIMB was the biggest percentage decliner followed by Dialog Group Bhd.
CIMB shares closed down 14 sen or 2.62% at RM5.20 with some 43 million units traded. Dialog fell nine sen or 2.59% to RM3.38 with about 14 million shares done.
CIMB shares fell amid earnings dilution concerns after news reports indicated that Khazanah Nasional Bhd is seeking US$500 million (about RM2.06 billion) selling zero-coupon bonds exchangeable into CIMB shares.
Bloomberg, quoting terms for the deal, reported that CIMB, Credit Suisse and JPMorgan are arranging the sale of the five-year bonds.
Source: The Edge
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