Profit-tak­ing in heavy­weight stocks

The Sun (Malaysia) - - SPEAK UP -

SHARES on Bursa Malaysia bucked the re­gional trend to end broadly lower on profit-tak­ing in heavy­weight stocks yes­ter­day, deal­ers said.

The FBM KLCI closed at 1,619.12 points, 7.81 points lower.

Over­all, mar­ket breadth was neg­a­tive as losers out­weighed gain­ers 526 to 276 with 315 coun­ters un­changed, 591 un­traded and 49 sus­pended.

A dealer said per­sis­tent sell­ing in heavy­weight stocks weighed down the com­pos­ite in­dex.

“This was amid un­cer­tain­ties in the oil prices and volatile ring­git per­for­mance against global cur­ren­cies which had dented in­vestors’ sen­ti­ment.

“All eyes were fo­cused on the out­come of the Or­gan­i­sa­tion of Pe­tro­leum Ex­port­ing Coun­tries’ meet­ing to­day, which would de­cide if mem­bers are agree­able to a col­lec­tive cut of sup­ply,” he said.

Other Asian stock mar­kets, how­ever, were mostly higher yes­ter­day, tak­ing the cue from a positive Wall Street, he said.

Of the heavy­weights, May­bank weak­ened 12 sen to RM7.77, TNB shed 4 sen to RM14.04 and Sime Darby de­clined 19 sen to RM7.96. Petronas Chem­i­cals added 3 sen to RM6.83. Pub­lic Bank was flat at RM19.58. – Ber­nama

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