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 (June 24): It was another bleak performance for the FBM KLCI today as it fell 4.41 points or 0.29% to close at 1,502.63 after trending lower for much of the day.
An analyst said the benchmark index was dragged down by Petronas-related heavyweights following Petronas Nasional Bhd's move to withdraw its legal action over the 5% petroleum sales tax imposed by the Sarawak government.
“At the same time, the pullback in crude oil prices due to the larger-than-expected weekly inventory build-up compounded the weakness,” Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com.
Petronas Dagangan Bhd was the worst hit stock among the KLCI constituents, falling RM1.04 or 4.59% to close at RM21.64.
This was followed by Hap Seng Consolidated Bhd, which fell 19 sen or 2.17% to RM8.55, and Genting Malaysia Bhd, which was five sen or 1.87% lower at RM2.63.
“For now, we will continue to observe the 1,500 level as the immediate support,” said Leong. “Should that level fail to hold, we think that weakness may prevail over the near term.”
“At the same time, investors would be keeping an eye on the final reading of US 1Q2020 gross domestic product data tomorrow evening,” Leong added.
Overall, 5.39 billion shares worth RM2.6 billion were traded on Bursa Malaysia today, with 556 losers and 409 gainers.
Elsewhere in Asia, Reuters reported that shares cleared a four-month high as investors remained stubbornly upbeat on the outlook for a reopening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% to reach its highest since pandemic lockdowns first cratered markets in early March.
Source: The Edge
Comments
Post a Comment