KUALA LUMPUR, April 16 (Bernama) -- Bursa Malaysia ended lower today, weighed down by persistent profit-taking amid ongoing concerns over global trade tariffs. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 9.51 points, or 0.64 per cent, to 1,476.92 compared to Tuesday’s close of 1,486.43. The benchmark index opened 0.02 of-a-point higher to 1,486.45 and moved between 1,472.84 and 1,487.50 throughout the day. In the broader market, decliners outpaced gainers 573 to 320, while 434 counters were unchanged, 1,071 untraded, and nine others suspended. Turnover slipped to 3.00 billion units valued at RM1.65 billion from 3.36 billion units valued at RM1.91 billion on Tuesday.
KUALA LUMPUR (Aug 9): Bursa Malaysia closed higher on Wednesday (Aug 9), with the key index ending at its intraday high on the back of foreign buying support particularly in the heavyweights, despite a gloomy external environment.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 11.03 points to 1,462.03 from 1,451 at Tuesday’s (Aug 8) close.
The barometer index opened 0.7 of a point lower at 1,450.3 and hit a low of 1,446.71 in the morning session. The momentum, however, reversed during mid-afternoon and continued building up thereafter.
On the broader market, gainers beat losers 430 to 417, while 449 counters were unchanged, 994 untraded and 16 others suspended.
Turnover stood at 3.17 billion units worth RM2.19 billion from 3.17 billion units worth RM1.71 billion on Tuesday, reflecting the domination of heavyweights in Wednesday's trading.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices ended mixed on Wednesday as investors are wary about the US banking system, which triggered a decline on Wall Street after Moody's credit rating downgrade on various regional banks.
Moody's highlighted concerns about deposit risks, the possibility of an economic downturn and the challenges faced by commercial real estate portfolios.
On the other hand, China’s consumer price index fell for the first time in over two years, posting a 0.3% year-on-year drop in July but rose 0.2% on a monthly basis.
“The FBM KLCI continued to trend higher thanks to persistent support from foreign buying.
“Despite the cautious market undertone globally, we expect buying of local equities to continue due to the cheap valuations of local stocks and continuous support by foreign funds,” he said.
He said Rakuten Trade anticipated the key index to trend slightly higher within the 1,455 and 1,470 range for the remainder of the week.
“After breaking the 1,460 resistance, we shall see the next resistance at 1,490, with support at 1,440,” he added.
All banking index-linked stocks on Bursa showed bullish performances, with Hong Leong Bank Bhd gaining 40 sen to RM20.10, Public Bank Bhd, Maybank Bhd and RHB Bank Bhd increasing three sen each to RM4.17, RM9 and RM5.71, CIMB Group Holdings Bhd bagged five sen to RM5.65 while Hong Leong Financial Group Bhd soared 12 sen to RM18.78.
As for other heavyweights, CelcomDigi Bhd climbed 15 sen or 3.5% to RM4.44, Tenaga Nasional Bhd bagged four sen to RM9.64, Petronas Chemicals Group Bhd gained two sen to RM6.85, IHH Healthcare Bhd added one sen to RM5.94.
Among the actives, Classita Holdings Bhd shed 1.5 sen to 10 sen, Handal Energy Bhd added two sen to 26.5 sen, Sapura Energy Bhd was flat at 5.5 sen, Top Glove Corp Bhd slipped half a sen to 88 sen, while UEM Sunrise Bhd inched up half a sen to 52.5 sen.
On the index board, the FBM Emas Index advanced 64.59 points to 10,719.7, the FBMT 100 Index increased 67.8 points to 10,415.66, the FBM Emas Shariah Index garnered 60.63 points to 10,943.79, the FBM ACE Index swelled 22.08 points to 5,315.76 and the FBM 70 Index grew 45.49 points to 13,998.26.
Sector-wise, the Financial Services Index surged 110.8 points to 16,357.19, the Industrial Products Services Index added 0.39 of a point to 167.09, the Plantation Index improved 26.52 points to 7,169.84, while the Energy Index slid 4.12 points to 825.69.
The Main Market volume decreased to 2.34 billion units valued at RM1.94 billion, from 3.17 billion units valued at RM1.71 billion on Tuesday.
Warrants turnover narrowed to 323.38 million units worth RM48.07 million versus Tuesday’s 430.44 million units worth RM68.45 million.
The ACE Market volume contracted to 500.74 million shares valued at RM198.31 million, compared with 602.48 million shares valued at RM199.96 million previously.
Consumer products and services counters accounted for 710.33 million shares traded on the Main Market, industrial products and services (309.08 million); construction (83.39 million); technology (116.57 million); SPAC (nil); financial services (92.39 million); property (265.91 million); plantation (32.28 million); REITs (11.86 million), closed/fund (9,300); energy (443.53 million); healthcare (140.99 million); telecommunications and media (31.77 million); transportation and logistics (25.25 million); and utilities (71.71 million).
Source: The Edge
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