Bursa Malaysia closes lower midweek

KUALA LUMPUR: Bursa Malaysia was lower at yesterday’s close, in sync with most regional peers on poor Japan data, as well as mounting worries over the US- China trade war, dealers said.

The benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) eased 1.85 points to close at 1,796.30 versus Tuesday’s close of 1,798.15.

After opening 0.25 of-a-point weaker at 1,797.90, the index moved between 1,794.23 and 1,799.80 throughout the day.

On the scoreboard, market breadth was negative with losers outpacing gainers 471 to 336, while 429 counters unchanged, 625 untraded and 17 others suspended.

Volume decreased to 2.34 billion units valued at RM2 billion from 3.00 billion units worth RM2.15 billion.

A dealer said as the two Asian biggest economies, China and Japan were facing an economic slowdown, the negative market trend were spreading across the Asian markets, including Bursa Malaysia.

“However, with the US economy seems to be ‘remarkably positive’ as mentioned by Federal Reserve Chair Jerome Powell, coupled with higher crude oil price, we hope these might cushion the trading of local stocks from weakening further, either from domestic or foreign buying,” the dealer said.

Yesterday, the Brent crude oil added 0.42 per cent to US$85.16 per barrel and it is expected to rise further.

Among heavyweights, Maybank fell three sen to RM9.71, Public Bank down two sen to RM25, while Tenaga rose four sen to RM15.58 and Petronas Chemicals was two sen better at RM9.50.

For actives, My EG Services and Hibiscus Petroleum were flat at RM1.63 and RM1.28, respectively, Sapura Energy slipped 1.5 sen to 41.5 sen, but VS Industry added four sen to RM1.74.

oints to 12,543.84, the FBM Emas Shariah Index eased 9.29 points to 12,698.94 and the FBMT 100 Index decreased 12.58 points to 12,346.93.

The FBM Ace Index erased 31.77 points to 5,296.73, while the FBM 70 declined 14.54 points to 14,840.57.

Sector- wise, the Plantation Index contracted 27.53 points to 7,510.38, the Financial Services Index inched down 4.35 points to 17,764.31, while the Industrial Products and Services Index edged up 0.22 of- a- point to 178.04.

Main Market volume decreased to 1.65 billion shares worth RM1.82 billion from 1.97 billion shares worth RM1.95 billion.

Warrants’ turnover depreciated to 402.83 million units valued at RM104.19 million compared with 497.51 million units worth RM111.54 million.

Volume on the ACE Market down to 287.65 million units worth RM66.13 million from 537.41 million units valued at RM91.52 million.

Consumer products and services accounted for 196.96 million shares traded on the Main Market, industrial products and services ( 452.12 million), construction ( 65.25 million), technology ( 274.97 million), SPAC ( 321,500), financial services (69.45 million), property ( 83.33 million), plantations (17 million), REITs ( 3.03 million), closed/ fund (7,000), energy (395.49 million), healthcare ( 22.85 million), telecommunication and media (17.87 million), transportation and logistics (17.71 million), and utilities (32.78 million).

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