Bursa Malaysia closes lower on profit-taking

KUALA LUMPUR: Bursa Malaysia ended its trading day for the week lower on persistent profit-taking in most indexlinked counters as investors squared off their positions ahead of the weekend, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.97 per cent or 16.48 points weaker at 1,679.86 from Thursday’s close of 1,696.34, after opening 5.22 points better at 1,701.56.

The market bellwether moved within a range of 25.53 points between 1,677.45 and 1,702.98 throughout the trading session.

On the broader market, losers trounced gainers 614 to 273, while 324 counters were unchanged, 705 untraded and 69 others suspended.

Volume expanded to 3.08 billion units worth RM4.55 billion from 2.16 billion units valued at RM2.44 billion on Thursday.

M&A Securities Sdn Bhd chief dealing officer R. Sundararajah told Bernama that said the subdued stock market was due to lack of catalysts to drive the market positively.

Meanwhile, another dealer said investors will closely observe the development of the Group of Twenty (G20) summit, as they await the anticipated meeting between the US and Chinese presidents to discuss a trade deal and potentially end the trade war.

The leaders are expected to meet on the sidelines of the summit this weekend.

Of the heavyweights, Maybank fell six sen to RM9.39, Public Bank rose two sen to RM24.92, Tenaga was flat at RM14.24, Petronas Chemicals shed five sen to RM9.20 and CIMB lost nine sen to RM5.76.

IHH Healthcare eased 13 sen to RM5.37. The shares shed 2.36 per cent after Khazanah Nasional Bhd announced on Thursday it has sold a 16 per cent stake in IHH to Mitsui & Co Ltd for RM8.42 billion.

Meanwhile, Genting Malaysia added two sen to RM2.86. The shares recouped 0.70 per cent following reports that it filed a legal action on Monday against Walt Disney Co and 21st Century Fox for over US$1 billion for pulling out of a contract for a Twentieth Century Fox World theme park.

Of actives, MYEG gained six sen to RM1.11 and FGV dipped 2.5 sen to 88.5 sen.

Bumi Armada fell three sen to 16 sen. Bursa Malaysia today issued an unusual market activity (UMA) query on the sharp fall in Bumi Armada share price recently.

Top losers, MPI slid RM1.18 to RM10.00, Padini lost 72 sen to RM4.80 and Hong Leong Industries gave up 66 sen to RM9.86.

The FBM Emas Shariah Index decreased 163.96 points to 11,633.44, the FBM 70 fell 189.51 points to 13,541.91 and FBM Ace Index was 38.84 points lower at 4,764.43.

The FBM Emas Index slipped 126.83 points to 11,604.34 and the FBMT 100 Index dipped 123.84 points to 11,480.05.

Sector-wise, the Plantation Index reduced 181.81 points to 6,853.27, the Industrial Products andServicesIndexwas1.20points easier at 170.43 and the Financial Services Index declined 97.94 points to 17,369.22.

Main Market volume increased to 2.53 billion shares worth RM4.43 billion from 1.54 billion shares valued at RM2.38 billion on Thursday.

Warrants turnover reduced to 326.21 million units valued at RM72.95 million versus 359.65 million units worth RM80.92 million previously.

Volume on the ACE Market declined to 203.86 million shares worth RM43.55 million compared with 255.56 million shares valued at RM58.36 million on Thursday.

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