Bursa Malaysia closes lower on mild profit-taking

KUALA LUMPUR: Bursa Malaysia ended lower yesterday on mild profit- taking led by Hartalega and in line with most regional peers, dealers said.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.14 per cent or 2.33 points to 1,635.68 from Wednesday’s close of 1,638.01.

The benchmark index opened 0.67 of-a-point easier at 1,637.34 and moved between 1,632.51 and 1,640.13 throughout the trading session.

Market breadth was negative as losers led gainers 462 to 408, while 441 counters were unchanged, 593 untraded and 28 others suspended.

Volume narrowed to 3.77 billion units valued at RM2.53 billion against Wednesday’s 4.38 billion units worth RM2.84 billion.

Hartalega which lifted the FBM KLCI yesterday fell 1.94 per cent or 10 sen to RM5.05, with 5.93 million shares changing hands.

A dealer said investors sentiment turned sour on renewed fears over slowing global economic growth.

However, the improved oil prices offset some of the negative sentiment, providing some support for oil and gas counters such as Petronas Chemicals, which added two sen to RM9.05, and Petronas Dagangan improved four sen to RM24.20.

The benchmark Brent crude rose 0.87 per cent to US$78.48 as at press time.

As for other heavyweights, Maybank fell one sen to RM9.13, Public Bank slipped four sen to RM22.60, Tenaga decreased 18 sen to RM12.16 and CIMB reduced six sen RM5.19.

Most active counters, Bumi Armada dipped 2.5 sen to 24.5 sen, Ekovest added one sen to 94.5 sen and KNM rose two sen to 19.5 sen.

The FBM Emas Index was 10.62 points lower at 11,654.49, the FBMT 100 decreased 12.97 points to 11,462.55 and the FBM 70 shed 3.22 points to 14,816.58.

The FBM Emas Shariah Index was 7.89 points weaker at 11,869.95 but the FBM Ace Index added 27.27 points to 4,816.58.

Sector- wise, the Financial Services Index went down 34.85 points to 16,848.82, the Plantation Index eased 0.53 of-a-point to 7,264.83 but the Industrial Products and Services Index improved 0.19 of-a-point to 171.61.

Main Market volume contracted to 2.93 million shares worth RM2.37 billion against 3.50 million shares valued at RM2.68 billion on Wednesday.

Warrants turnover reduced to 395.74 million units valued at RM76.81 million from 459.17 million units valued at RM81.02 million.

Volume on the ACE Market however advanced to 437.05 million shares valued at RM82.68 million versus 419.85 million shares valued at RM78.06 million previously.

Consumer products and services accounted for 273.48 million shares traded on the Main Market, industrial products and services (282.14 million), construction (678.46 million), technology (147.63 million), SPAC ( nil), financial services ( 52.33 million), property (228.71 million), plantation (65.11 million), REITs (5.91 million), closed/fund ( 7,600), energy ( 1.02 billion), healthcare (62.45 million), telecommunications and media (75.29 million), transportation and logistics (18.30 million) and utilities (21.89 million).