Bursa Malaysia ends sharply lower
KUALA LUMPUR: Bursa Malaysia finished sharply lower yesterday as the latest update on North Korea-US sent shock waves through the market.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 8.35 points, or 0.42 per cent, to 1,761.14 after moving between 1,756.92 and 1,767.23 throughout the day.
The index opened 2.62 points lower at 1,766.87 from Monday’s close of 1,769.49.
Market breadth was negative with losers beating gainers by 622 to 274, with 337 counters unchanged, 591 untraded and 58 others were suspended.
Volume fell for the second day to 1.45 billion worth RM1.83 billion from 1.78 billion worth RM1.65 billion on Monday.
Inter-Pacific Securities Sdn Bhd Head of Research, Pong Teng Siew, said markets across Asia held back due to the latest development between US and North Korea.
“It is a bad time for the stock market as it is wary of (the potential of war) … they worried about the actual military action that might be taken,” he told Bernama.
Earlier, a North Korean missile fired over the northern island of Hokkaido, Japan and broke into three pieces before falling into the Pacific Ocean.
Later on, US President Donald Trump and Japan Prime Minister Shinzo Abe vowed to increase pressures on North Korea.
It was reported that both leaders agreed to call for an emergency meeting of the United Nation Security Council to discuss the situation.
Most of the heavyweights were traded in the red with Maybank leading the list. It fell 14 sen to RM9.46, CIMB erased eight sen to RM5.91, Sime dropped nine sen to RM9 and PetGas eased three sen to RM18.34.
Of the losers, MPI declined 38 sen to RM13.70, AeonCR fell 36 sen to RM12.34, TimeCom erased 26 sen to RM9.40 while DLady and Panamy both eased two sen to RM59 and RM38.5, respectively.
The FBM Emas Index declined 69.81 points to 12,528.77, FBM Emas Shariah Index decreased 75.93 points to 12,702.41 and the FBMT 100 Index erased 64.97 points to 12,197.57.
The FBM 70 inched down 106.55 points to 14,953.58 and the FBM Ace was 93.69 points lower at 6,515.31.
Sector-wise, the Plantation Index fell 5.96 points to 7,835.90, Finance lost 133.60 points to 16,584.43 and the Industrial Index fell 20.34 points to 3,183.65.
Main Market volume fell to 888.69 million shares worth RM1.71 billion from 998.34 million shares worth RM1.49 billion previously.
Volume on the ACE Market declined to 402.40 million units valued at RM96.42 million from 559.69 million units valued at RM133.88 million on Monday.
Warrants decreased to 161.25 million shares worth RM23.46 million from 212.81 million shares worth RM27.24 million previously.
Consumer products accounted for 47.65 million shares traded on the Main Market, industrial products (186.23 million), construction (88.36 million), trade and services (360.72 million), technology (31.24 million), infrastructure (3.65 million), SPAC (170,300), finance (71.48 million), hotels (2.86 million), properties (66.66 million), plantations (14.40 million), mining (441,200), REITs (10.83 million), and closed/fund (7,800).