Bursa Malaysia ends marginally lower
profit taking activities in some key heavyweight counters and high volume of trading, last week.
“Notably, we see technology stock, KESM Industries, which was also the top loser, fell dramatically to RM11.46 today against RM11.60 on March 21.
“I reckon this news circulated on the social media on the existence of ‘pump and dump’ activities on Bursa Malaysia which was keeping investors at bay,” Pong told Bernama.
It was reported that the stock exchange discovered certain groups of market participants using the social media and Internet to carry out manipulative activities, which included ‘pump and dump’ schemes.
Top contributers to the composite index were Petronas Chemicals which gained six sen to RM7.58, Genting added eight sen to RM5.65 and Sime Darby rose five sen to RM9.45.
Among heavyweights, Maybank and TNB fell two sen each to RM8.97 and RM13.70, respectively, and Public Bank eased four sen to RM19.92.
Of actives, Naim Indah added 1.5 sen to 12 sen, Trive Property gained one sen to 20.5 sen while EA Holdings was flat at eight sen.
The FBM Emas Index decreased 14.62 points to 12,351.24, the FBMT100 Index fell 8.22 points to 12,008.78 but the FBM Emas Shariah Index was 6.20 points better at 12,778.95.
The FBM 70 declined 20.21 points to 14,434.38 and the FBM Ace was 31.85 points weaker at 5,687.71.
Sector-wise, the Finance Index lost 94.66 points to 15,653.41 but the Plantation Index rose 34.93 points to 8,191.60 and the Industrial Index added 9.64 points to 3,281.88.
Main Market turnover expanded to 2.77 billion units, valued at RM2.30 billion, from 2.41 billion units, valued at RM2.32 billion, recorded last Friday.
Volume on the ACE Market declined to 963.27 million shares, worth RM148.62 million from 1.11 billion shares, worth RM179.14 million, registered previously.
Warrants rose to 222.74 million units, valued at RM33.91 million, from Friday’s 137.73 million units valued at RM19.01 million.
For further information on stocks and prices, please visit www.bursamalaysia.com.