KL shares close lower, traders remain on the sidelines

KUALA LUMPUR: Shares on Bursa Malaysia were lower on Friday in line with most Asian shares, with traders remaining on the sidelines, focusing on the US job data to be released soon, a dealer said.

The benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) finished 9.97 points easier at 1,841.83 from Thursday’s close of 1,851.80.

It opened 0.56 of- a-point easier at 1,851.24 and moved between 1,841.83 and 1,852.75 throughout the day.

On the broader market, losers trounced gainers 525 to 325 while 401 counters were unchanged, 604 untraded and 15 others were suspended.

Volume fell to 1.61 billion units, valued at RM2.12 billion, from 1.67 billion units worth RM2.19 billion previously.

Dealers said investors were keenly awaiting the US job data that would impact inflation and the pace rate increases by the US Federal Reserve.

It was reported that the non- farm payrolls report for April was projected to show the creation of 192,000 jobs with year- on- year average earnings growth holding at 2.7 per cent.

“If this happens, the US Federal Reserve will be more confident of hiking interest rates at the upcoming June Federal Open Market Committee meeting,” the dealer said.

Of heavyweights, Maybank fel l eight sen to RM10.62, Public Bank lost 14 sen to RM23.80, Tenaga rose eight sen to RM16.80 and IHH was one sen better at RM6.01.

Among actives, Sapura fell 3.5 sen to 65.5 sen, Borneo Oil inched down half- a- sen to eight sen, Sime Darby improved seven sen to RM2.69 while My EG Services was four sen better at RM2.66.

The FBM Emas Index declined 47.93 points to 12,859.29, the FBMT 100 Index lost 50.41 points to 12,669.34 and FBM Ace decreased 69.36 points to 5,228.17.

The FBM 70 added 1.51 points to 15,278.88 and the FBM Emas Shariah Index rose 11.21 points to 13,087.44.

Sector- wise, the Finance Index gave up 194.93 points to 17,949.38, the Plantation Index lost 14.64 points to 7,905.71 but the Industrial Index gained 10.22 points to 3,205.03.

Market volume fell to 912.61 million shares, worth RM1.97 billion , from 944.42 million shares, valued at RM2.03 billion.

Warrants volume increased to 503.89 million units, worth RM113.31 mi l lion, versus 499.77 million units valued at RM119.20 million.

Volume on the ACE Market dropped to 185.23 mi l lion shares, worth RM36.06 million, from 225.15 million shares worth RM39.14 mil lion, recorded previously.

Consumer products accounted for 45.70 mi l l ion shares traded on the Main Market, industrial products ( 166.60 million), construction ( 58.08 million), trade and services ( 457.62 million), technology ( 34.41 million), infrastructure (12.01 million), SPAC ( 357,100), finance ( 60.53 million), hotels ( 7.63 million), properties (42.72 million), plantations ( 19.54 mil lion) , mining ( 55,200) , REITs ( 7.34 mi l l ion), and closed/fund (12,100).

For further information on stocks and prices, please visit www.bursamalaysia.com.