KL shares ease on profit-taking

KUALA LUMPUR: Bursa Malaysia ended marginally lower yesterday with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) down 0.87 point to 1,734.76 on mild profit-taking in telecommunication heavyweights.

On the broader market, losers outpaced gainers by 468 to 290, with 340 counters unchanged, 724 counters untraded and 22 others suspended.

Total volume rose to 1.42 billion units worth RM1.71 billion from 1.22 billion units worth RM1.55 billion previously.

A dealer said investors took profits after the local bourse rebounded on Wednesday and extended the gains yesterday morning.

“It was a quick profittaking commonly seen during consolidation phase.

Bargain hunters will keep supporting the bourse above 1,710 (FBM KLCI),” he said.

The key index was dragged down by telecommunication counters. Maxis fell seven sen to RM6.59, Digi.com lost six sen to RM5.55 and Axiata dropped four sen to RM6.42.

AirAsia group shares were actively traded on news the low-cost carrier could possibly ‘fill-up’ the routes terminated by national carrier, Malaysia Airlines.

AirAsia shares fell on concerns about a slowdown in air travel following the outbreak of the Middle East Respiratory Syndrome in South Korea.

AirAsia dipped 20 sen to RM1.82 and AirAsia X eased 1.5 sen to 23 sen.

Among actively-traded shares, AirAsia X warrants (A) added five sen to 5.5 sen and VSolar, APFT and Privasia edged up one sen to 17.5 sen, 20.5 sen and 26.5 sen, respectively.

On the scoreboard, the FBM Emas Index fell 23.15 points to 12,015.74, FBMT100 Index eased 22.08 points to 11,698.29 and the FBM Emas Shariah Index declined 24.31 points to 12,525.72.

The FBM 70 dipped 86.54 points to 13,182.93 and the FBM Ace fell 46.99 points to 6,365.91.

Sector-wise, the Plantation Index fell 16.72 points to 7,345.39, Finance Index lost 17.60 points to 15,529.82 and the Industrial Index edged down 1.05 points to 3,193.03.

Main Market volume increased to 966.62 million shares worth RM1.59 billion from 810.92 million shares worth RM1.40 billion on Wednesday.

Turnover on the ACE Market improved to 343.66 million units valued at RM94.01 million from 288.57 million units valued at RM99.14 million previously.

Warrants declined to 106.28 million shares worth RM22.57 million from 124.13 million shares worth RM48.18 million previously.

Consumer products accounted for 85.06 million shares traded on the Main Market, industrial products (151.60 million), construction (29.48 million), trade and services (534.46 million), technology (31.56 million), infrastructure (13.75 million), SPAC (7.93 million), finance (43.35 million), hotels (573,800), properties (47.35 million), plantations (13.88 million), mining (99,000), REITs (7.53 million) and closed/fund (7,000). — Bernama