Bursa Malaysia ends marginally lower on last-minute selling

KUALA LUMPUR: Bursa Malaysia gave up earlier gains to end marginally lower yesterday, prompted by last-minute selling, dealers said.

At 5pm, the key FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.40 of-a-point or 0.02 per cent easier 1,665.68 from Wednesday’s close of 1,666.08.

The index opened 6.91 points lower at 1,659.17 and moved between 1,657.78 and 1,670.85 throughout the trading session.

Losers outpaced gainers 419 to 365, with 395 counters unchanged, 743 untraded and 93 others suspended.

Volume was lower at 1.55 billion shares, worth RM1.65 billion, from 2.00 billion units, valued at RM1.99 billion, on Wednesday.

OANDA Head of Trading in Asia-Pacific Stephen Innes said investors squared off their positions amid mounting trade war fears which could negatively impact global economic growth.

“Positive drivers remain far and few in between and with investors looking over their shoulder as the US dollar-renminbi touched 6.64 which was a clear sign that exporters in the region should become more competitive.

“No one wants to buy into assets with the prospects of weakening local currencies. And, the FBM KLCI is not an exception,” he told Bernama.

For heavyweights, Public Bank fell 10 sen to RM23.00, Tenaga was 16 sen lower at RM13.66, Petronas Chemicals eased five sen to RM8.40 and IHH shed one sen to RM5.99.

Maybank gained 16 sen to RM8.84 and CIMB rose 10 sen to RM5.50.

Among actives, Sapura Energy added 1.5 sen to 65 sen, SKH was flat at seven sen and MYEG gained one sen to RM1.00.

The FBM Emas Index recovered 4.41 points to 11,793.07 and the FBM70 was 27.23 points firmer at 14,435.48.

The FBMT100 Index improved 3.39 points to 11,584.80 but the FBM Emas Shariah Index dipped 31.97 points to 11,888.56.

The FBM Ace Index was up 41.56 points at 5,119.66.

Sector-wise, the Finance Index bagged 79.18 points to 16,502.99, the Plantation Index appreciated 31.93 points to 7,525.34 and the Industrial Index increased 12.43 points to 3,115.78.

Main Market volume decreased to 889.33 million shares, valued at RM1.45 billion, from 1.21 billion shares, worth RM1.78 billion, recorded on Wednesday.

Warrants turnover fell to 496.62 million units, worth RM175.70 million, against 530.93 million units valued at RM164.07 million, transacted previously.

Volume on the ACE Market decreased to 172.39 million shares ,valued at RM26.98 million, versus Wednesday’s 260.38 million shares worth RM37.04 million.

Consumer products accounted for 48.66 million shares traded on the Main Market, industrial products (188.95 million), construction (79.50 million), trade and services (335.32 million), technology (67.07 million), infrastructure (11.70 million), SPAC (1.32 million), finance (46.37 million), hotels (3.36 million), properties (69.98 million), plantations (31.80 million), mining (50,600), REITs (2.19 million) and closed/fund (900).

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