FBM KLCI closes lower on losses in bluechips, small caps

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed lower across-the-board yesterday, dragged down by losses in bluechips and smallcapitalised stocks, but managed to stay above the 1,800-points level.

At 5pm, the key index settled at its intra-day low of 1,806.48, down 7.31 points, after trading as high as 1,814.58. Inter-Pacific Research Sdn Bhd’s head of Research Pong Teng Siew said the local market traded on a quiet note yesterday, as investors pulled their position ahead of window-dressing activity, which normally emerges at year-end.

“We are heading towards such activity and it leads to a bit of sell down.

“This trend (selling) will continue within the next two to three weeks,” he told Bernama, adding, Japan’s sluggish third quarter growth data had also hurt demand not only on Bursa, but also its regional peers.

On the scoreboard, the FBM Emas Index contracted 58.93 points to 12,475.97, the FBMT100 Index lost 54.91 points to 12,146.95, the FBM Ace declined 43.1 points to 6,338.29, and the FBM 70 gave up 83.51 points for 13,555.2.

Sector-wise, the Industrial Index eased 22.05 points to 3,274.94 and the Finance Index eased 31.89 points to 16,380.83, while the Plantation Index fell 47.74 points to 8,318.54.

On the broader market, losers led gainers at 532 to 245, with 286 counters unchanged, 627 counters untraded and 19 others suspended.

Total volume decreased to 1.41 billion shares worth RM1.39 billion from 1.64 billion units worth RM1.6 billion on last Friday.

Of the heavyweights, Public Bank rose six sen to RM18.26 and Sime Darby gained three sen to RM9.65.

However, Maybank shed one sen to RM9.55, TNB slipped two sen to RM13.50, and Axiata eased four sen to RM7.01.

Among actives, IFCA MSC added 4.5 sen to 80.5 sen, but Muhibbah Engineering lost 26 sen to RM2.30, with Asia Bioenergy flat at 14 sen.

Main Market volume shrank to 854.25 million units worth RM1.25 billion from last Friday’s 1.15 billion units worth RM1.48 billion.

Turnover on the ACE Market increasedto518.09millionshares valued at RM130.27 million from 447.13 million shares valued at RM115.67 million.

Warrants declined to 35.38 million units worth RM3.21 million from 41.34 million units worth RM4.56 million previously.

Consumer products accounted for 51.34 million shares traded on the Main Market, industrial products (141.98 million), construction (73.28 million), trade and services (375.15 million), technology (55.27 million), infrastructure (22.12 million), SPAC (27.33 million), finance (27.45 million), hotels (350,600), properties (59.86 million), plantations (5.69 million), mining (43,000), REITs (14.34 million) and closed/fund (33,600). — Bernama