Bursa Malaysia ends lower

KUALA LUMPUR: Bursa Malaysia ended lower yesterday after a slightly choppy trading session with buying interspersed with selling in bluechip counters, amid external negative sentiment.

At the close, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.24 points or 0.13 per cent lower at 1,675.86 from Monday’s close of 1,678.10.

The index opened 1.14 points higher at 1,679.24 and moved between 1,673.26 and 1,681.54 throughout the trading session.

Losers outpaced gainers 547 to 264 with 409 counters unchanged, 695 untraded and 28 others suspended.

Volume stood at 1.87 billion units valued at RM1.92 billion.

Hermana Capital Bhd chief executive officer and chief investment officer Datuk Dr Nazri Khan Adam Khan said profit-taking was driven from the continuation of foreign selling of the local shares, amid concerns over the trade war between the United States, China and the European Union.

“The continuous worries coupled with the prospects of a further interest rate increase in the US have spread to Malaysia.

“This has resulted in sentiment remaining jittery as the world is cautiously watching the movements of those countries involved,” he told Bernama.

He also said local stocks related to China would likely be impacted by the trade war concerns including Hiap Teck, Cuscapi and Eduspec Holdings.

On a lighter note, Nazri Khan hoped that the inflation rate which is expected to moderate in the third quarter this year following the zero-rating of the Goods and Services Tax (GST) in June could help cushion the external impact in Malaysia.

“Steadier oil and commodity prices would also help,” Nazri Khan said, adding that markets are not at their worst yet.

Of heavyweights, Maybank fell eight sen to RM9.00, Public Bank gained 18 sen to RM22.90, Tenaga eased two sen to RM13.84, Petronas Chemicals dropped three sen to RM8.41 and CIMB fell one sen to RM5.39.

Among actives, Sapura Energy and MYEG each gave up half-a-sen to 65 sen and 98 sen respectively, while DBE was flat at three sen.

The FBM Emas Index decreased 22.31 points to 11,857.45, the FBMT100 Index retreated 18.56 points to 11,647.27 and the FBM70 was 34.27 points easier at 14,482.14.

The FBM Ace Index shrank 21.95 points to 5,139.57 and the FBM Emas Shariah Index fell 33.57 points to 11,987.83.

Sector-wise, the Finance Index erased 58.45 points to 16,516.49 and the Industrial Index marginally dropped 0.34 of-a-point to 3,117.35 and the Plantation Index declined 22.41 points to 7,530.54.

Main Market volume rose to 1.21 billion shares valued at RM1.77 billion, from 1.18 billion shares worth RM1.79 billion on Monday.

Warrants volume fell to 490.27 million units valued at RM129.48 million, against 601.59 million units worth RM158.60 million previously.

Volume on the ACE Market decreased to 172.36 million shares worth RM29.08 million, versus Monday’s 251.96 million shares valued at RM50.94 million.

Consumer products accounted for 187.66 million shares traded on the Main Market, industrial products ( 178.11 million), construction ( 118.79 million), trade and services (449.58 million), technology (45.64 million), infrastructure (17.04 million), SPAC (603,500), finance (69.18 million), hotels (246,500), properties ( 117.45 million), plantations (25.63 million), mining (22,400), REITs (3.45 million) and closed/fund (249,000).

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