Bursa Malaysia closes mixed
KUALA LUMPUR: Last-minute selling in Healthcare counters pulled Bursa Malaysia slightly down from earlier gains to close mixed yesterday, amid weaker sentiment on most regional bourses, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 1.31 points or 0.08 per cent to 1,575.31, from yesterday’s close of 1,576.62.
The index opened 13.97 points higher at 1,590.59 and moved between 1,575.31 and 1,609.19 throughout the day.
On the broader market, gainers led losers 601 to 537, while 490 counters were unchanged, 515 untraded and 17 others suspended.
Total volume was weaker at 5.93 billion units worth RM4.73 billion compared with 7.47 billion units worth RM5.14 billion on Monday.
A dealer said most of the Asian markets were bearish on growing concern among investors over the timeline for US President Joe Biden’s fiscal-relief plan amid warnings about potential asset bubbles.
He said investors are now considering the possibility that the US$1.9 trillion fiscal package might be delayed while the market concern over delays in distributing the vaccine and jitters before the earnings season fuelled the caution, sending Asian stocks lower during early trade along with US futures.
“President Biden has said that he is open to negotiation on his proposed US$1.9 trillion stimulus deal and is hopeful to bring Republicans behind it.
This could create delays and even lower the scope of the package,” the dealer added.
Among heavyweights, Public Bank rose 14 sen to RM4.40 after a four-for-one bonus issue, TNB advanced 5 sen to RM9.70, while Maybank slipped 6.0 sen to RM7.82, Petronas Chemicals went down 15 sen to RM6.75 and Top Glove gave up 32 sen to RM6.20.
Of the actives, DNeX fell 2.0 sen to 28 sen, K-Star was down 3 sen to 14.5 sen, while Fintec earned half-a-sen to 8.0 sen and Key ASIC improved 1.5 sen to 10.5 sen.
On the index board, the FBM Emas Index added 8.34 points to 11,398.89, the FBMT 100 Index went up 3.28 points to 11,138.52, but the FBM Emas Shariah Index was 59.93 points lower at 12,832.65.
The FBM 70 gained 53.18 points to 14,677.40 and the FBM ACE jumped 128.35 points to 10,798.60.