Lack of buying interest

BURSA Malaysia closed lower yesterday on lack of buying interest in selected key heavyweights and blue chips, coupled with the declining global oil prices, dealers said.

The FBM KLCI fell 8.19 points to 1,780.71, after fluctuating between 1,780.71 and 1,787.70 during the day. The key index opened 2.18 points weaker at 1,786.72.

Market breadth was negative with losers leading gainers by 544 to 311, while 390 counters were unchanged, 544 untraded and 21 suspended.

A dealer said the weaker oil prices, which fell to a seven-month low on growing supply, put pressure on commodity-linked currencies and most Asian bourses.

“The drop in oil prices will further weaken local equities, especially those heavyweights in the oil and gas-related sector,” he said.

Petronas Gas lost 22 sen to RM18.66, Petronas Chemicals declined five sen to RM7.15 and Petronas Dagangan fell six sen to RM24.22.

Of the heavyweights, Maybank, Sime Darby and IHH Healthcare gained one sen each to RM9.64, RM9.61 and RM5.99, respectively while TNB lost six sen to RM14.32, Maxis fell 26 sen to RM5.62 and Genting declined 11 sen to RM9.64.

Among the losers, BAT dipped 58 sen to RM44.98, United Plantation fell five sen to RM28.20, Hong Leong Financial was 36 sen lower to RM17.14 and Sapura Energy declined 18 sen to RM1.67. – Bernama