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 14): Bursa Malaysia reversed most of its earlier losses to end mixed on Monday (Aug 14) on late buying of selected financial services, telecommunications and media counters, amid weak sentiments on regional stock markets.
At 5pm, the FBM KLCI had eased 0.16 of a point to 1,457.0, from 1,457.16 at last Friday’s close.
The barometer index opened 0.03 of a point higher at 1,457.19, and moved between 1,452.15 and 1,457.43 throughout the day.
On the
broader market, gainers overwhelmed decliners 575 to 404, while 378
counters were unchanged, 972 untraded, and 13 others suspended.
Turnover improved to 3.53 billion units worth RM1.89 billion, from 2.94 billion units worth RM1.86 billion last Friday.
CIMB Group Holdings Bhd and CelcomDigi Bhd were the top two contributors towards the local benchmark index’s recovery. The banking group rose four sen to RM5.65, while the telecommunications company added three sen to RM4.38, with a combined contribution of 1.29 points.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index closed slightly lower in tandem with the regional selldown.
“Major regional stock benchmarks slid downwards, due to conflicting US economic data that rekindled concerns over the potential of the US Federal Reserve opting for another interest rate hike. Simultaneously, US bond yields increased, with the two-year Treasury yield reaching 4.89%,” he told Bernama on Monday.
On the domestic front, he said the benchmark index remained well supported above the 1,450-point mark, as the election dust settled down with a widely expected outcome.
“Our view is that this will help clear up uncertainties in the local political scene, and will attract more foreign investors to the Malaysian stock market. Additionally, we expect the overall outlook in the midterm to be positive buoyed by improving economic conditions,” he said.
However, he said that investor sentiment may be affected by uncertain global economic conditions and increasing market volatility.
As such, he said the KLCI is expected to trend sideways, with an upside bias within the range of 1,450-1,470 for the week, with immediate resistance at 1,460 and support at 1,440.
Among other heavyweights, Malayan Banking Bhd (Maybank) at RM9 and Petronas Chemicals Group Bhd at RM6.83 had slipped two sen each, Public Bank Bhd fell one sen to RM4.15, Tenaga Nasional Bhd was flat at RM9.80, while IHH Healthcare Bhd went up one sen to RM5.99.
Among the actives, Sapura Energy Bhd at 5.5 sen and Classita Holdings Bhd at 8.5 sen had eased half sen each, Advance Synergy Bhd slipped 2.5 sen to 14.5 sen, while UEM Sunrise Bhd rose two sen to 56.5 sen.
On the index board, the FBM Emas Index was 17.28 points better at 10,712.41, the FBMT 100 Index gained 12.95 points to 10,400.25, the FBM Emas Shariah Index added 17.57 points to 10,936.28, and the FBM 70 Index improved 77.28 points to 14,064.21.
The FBM ACE Index, however, trimmed 18.83 points to 5,325.32.
Sector-wise, the Financial Services Index advanced 9.89 points to 16,306.87, the Industrial Products and Services Index added 0.10 of a point to 167.46, and the Energy Index rose 2.58 points to 834.11, while the Plantation Index shaved off 13.21 points to 7,074.02.
The Main Market volume widened to 2.45 billion units valued at RM1.58 billion, from 2.02 billion units valued at RM1.61 billion last Friday.
Warrant turnover expanded to 442.27 million units worth RM67.76 million, versus 312.12 million units worth RM49.29 million.
The ACE Market volume rose to 638.67 million shares valued at RM241.85 million, compared with 595.56 million shares valued at RM202.48 million previously.
Consumer products and services counters accounted for 665.51 million shares traded on the Main Market, along with industrial products and services (268.61 million), construction (136.42 million), technology (102.80 million), special purpose acquisition companies (nil), financial services (50.02 million), property (512.74 million), plantation (40.74 million), real estate investment trusts (10.66 million), closed/funds (120,700), energy (502.69 million), healthcare (51.15 million), telecommunications and media (26.58 million), transportation and logistics (29.42 million), and utilities (49.90 million).
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