Bursa Malaysia falls on profit-taking

KUALA LUMPUR: Bursa Malaysia bucked the regional trend to end broadly lower yesterday on profit-taking in heavyweight stocks, dealers said The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,619.12 points, 7.81 points lower from yesterday’s close of 1,626.93, after moving between 1,616.08 and 1,628.50.

The index opened 0.64 of a point higher at 1,627.57. The market breadth was negative as losers outweighed gainers 526 to 276 with 315 counters unchanged, 591 untraded and 49 suspended. Volume increased to 1.89 billion shares worth RM3.23 billion from 1.38 billion shares worth RM1.72 billion on Tuesday.

A dealer said persistent selling in heavyweight stocks weighed down the benchmark index.

“This was amid uncertainties in the oil prices and volatile ringgit performance against global currencies which had dented investors’ sentiment.

“All eyes were focused on the outcome of the Organisation of Petroleum Exporting Countries’ meeting yesterday, which would decide if members are agreeable to a collective cut of supply,” he said.

Other Asian stock markets, however, were mostly higher yesterday, taking the cue from a positive Wall Street, he said.

Among Asian stock markets, Japan’s Nikkei 225 gained 0.01 per cent to 18,308.48, Hong Kong’s Hang Seng rose 0.23 per cent to 22,789.77, South Korea’s Kospi improved 0.26 per cent to 1,983.48 and Singapore’s Straits Times went up 0.71 per cent to 2,899.67.

Of the heavyweights, Maybank fell 12 sen to RM7.77, TNB shed four sen to RM14.04 and Sime Darby declined 19 sen to RM7.96.

Petronas Chemicals added three sen to RM6.83. Public Bank was flat at RM19.58.

Among the actives, Reach Energy warrant shed one sen to seven sen, Axiata eased 13 sen to RM4.19, AirAsia X added 1.5 sen to 37 sen, Green Packet gained half-a-sen at 28 sen while RGB International was flat at 24 sen.

The FBM Emas Index fell 21.86 points to 11,355.80, FBMT100 Index slipped 18.72 points to 11,092.02, FBM Ace tumbled 58.45 points to 4,713.25 and the FBM Emas Syariah Index gave up 17.40 points for 11,901.19.

The FBM 70 rose 104.03 points to 13,331.26.

Sector-wise, the Finance Index slipped 20.90 points to 14,196.07 and the Industrial Index fell 21.83 points to 3,054.31. The Plantation Index rose 25.49 points to 7,676.77.

Main Market turnover increased to 1.47 million units worth RM3.17 billion from yesterday’s 954.89 million units worth RM1.64 billion.

The ACE Market volume rose to 205.15 million shares valued at RM29.43 million from 189.25 million shares valued at RM29.78 million on Tuesday.