Bursa Malaysia ends lower in range-bound trade

KUALA LUMPUR: Bursa Malaysia ended marginally lower in range-bound trading yesterday, with selling seen across the board, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended lower at 1,772.30, down 1.66 points from the 1,773.96 at close on Thursday.

After opening 0.06 of a point lower at 1,773.90, the index moved between 1,769.47 and 1,778.18 throughout the day.

Market breadth was negative as losers thumped gainers 771 to 208, with 344 counters unchanged, 459 untraded and 29 others suspended.

Volume decreased to 2.86 billion units, valued at RM2.61 billion, from the 2.95 billion units, valued at RM3.17 billion, traded on Thursday.

A dealer said the local market tracked the mixed performance on regional bourses as investors weighed Wall Street’s overnight gains against the latest oil production cut, which dragged down crude prices and commodity shares.

The market was disappointed despite the decision by the Organisation of the Petroleum Exporting Countries to extend supply cut, sending oil prices nearly 5.0 per cent lower as investors were anticipating deeper cuts, he said.

Regionally, Japan’s Nikkei 225 was down 0.64 per cent to 19,686.84, Hong Kong’s Hang Seng was up 0.03 per cent to 25,639.27, Singapore’s Straits Times declined 0.44 per cent to 3,221.40 and South Korea’s Kospi rose 0.53 per cent to 2,355.30.

Among heavyweights, Maybank added one sen to RM9.40, Sime Darby gained three sen to RM9.33, Petronas Chemicals edged up one sen to RM7.40, TNB shed two sen to RM13.80 while Public Bank was flat at RM20.08.

Of actives, Netx Holdings warrant eased half-a-sen to three sen, AirAsia X shed 1.5 sen to 41 sen while Netx Holdings, D.B.E Gurney and Iris Corporation were flat at 6.5 sen, 3.5 sen and 18.5 sen respectively.

The FBM Emas Index was 30.59 points lower at 12,661.58, FBMT 100 Index shed 23.28 points to 12,294.36 and the FBM 70 dropped 72.76 points to 15,145.50.

The FBM Ace fell 145.02 points to 6,386.88 and the FBM Emas Shariah Index slid 16.51 points to 12,924.46.

Sector-wise, the Finance Index eased 1.30 points to 16,499.86, the Industrial Index decreased 6.83 points to 3,275.93 but the Plantation Index was up 4.44 points at 8,064.46.

Main Market turnover decreased to 1.85 billion units, worth RM2.45 billion, from 1.91 billion units, worth RM2.99 billion, registered on Thursday.

Volume on the ACE Market increased to 714.67 million units, valued at RM116.73 million, from 624.05 million units, worth RM132.48 million, recorded previously.

Warrants fell to 291.34 million units valued at RM36.73 million, from yesterday’s 399.02 million units worth RM55.17 million.

Consumer products accounted for 199.76 million shares traded on the Main Market, industrial products (527.83 million), construction (115.32 million), trade and services (603.62 million), technology (81.40 million), infrastructure (6.86 million), SPAC (3.52 million), finance (88.99 million), hotels (1.67 million), properties (185.14 million), plantations (19.49 million), mining (59,400), REITs (11.48 million), and closed/fund (12,900).

For further information on stocks and prices, please visit www.bursamalaysia.com.