Lower on mild profit-taking

BURSA Malaysia ended lower yesterday on mild profit-taking led by Hartalega and in line with most regional peers, said dealers.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 2.33 points, or 0.14 per cent, to 1,635.68 from Wednesday’s close of 1,638.01.

The benchmark index opened 0.67 of-a-point easier at 1,637.34 and moved between 1,632.51 and 1,640.13 throughout the trading session.

Market breadth was negative as losers led gainers 462 to 408, while 441 counters were unchanged, 593 untraded and 28 others suspended.

Volume narrowed to 3.77 billion units valued at RM2.53 billion against Wednesday’s 4.38 billion units worth RM2.84 billion.

Hartalega, which lifted the FBM KLCI on Wednesday, fell 10 sen, or 1.94 per cent, to RM5.05, with 5.93 million shares changing hands.

A dealer said investors sentiment turned sour on renewed fears over slowing global economic growth.

However, the improved oil prices offset some of the negative sentiment, providing some support for oil and gas counters such as Petronas Chemicals, which added two sen to RM9.05, and Petronas Dagangan, which improved four sen to RM24.20.

As for other heavyweights, Maybank fell one sen to RM9.13, Public Bank slipped four sen to RM22.60, Tenaga decreased 18 sen to RM12.16 and CIMB fell six sen RM5.19.

Among the most active counters, Bumi Armada dipped 2.5 sen to 24.5 sen, Ekovest added one sen to 94.5 sen and KNM rose two sen to 19.5 sen.

The FBM Emas Index was 10.62 points lower at 11,654.49, the FBMT 100 decreased 12.97 points to 11,462.55 and the FBM 70 shed 3.22 points to 14,816.58.

The FBM Emas Shariah Index was 7.89 points weaker at 11,869.95 but the FBM ACE Index added 27.27 points to 4,816.58.

Main Market volume contracted to 2.93 million shares worth RM2.37 billion against 3.50 million shares valued at RM2.68 billion on Wednesday.

Warrants turnover fell to 395.74 million units valued at RM76.81 million from 459.17 million units valued at RM81.02 million.

Volume on the ACE Market advanced to 437.05 million shares valued at RM82.68 million versus 419.85 million shares worth RM78.06 million on Wednesday.

The FBM KLCI futures contract on Bursa Malaysia Derivatives ended lower yesterday.

At the close, April 2019 fell 7.0 points to 1,628.50 and May 2019 erased 6.5 points to 1,625.50. June 2019 and September 2019 shed 6.0 points each to 1,625.00 and 1,623.00, respectively.

Turnover advanced to 29,335 lots from 12,014 lots on Wednesday, while open interest expanded to 57,421 contracts from 39,293 contracts.