Bursa snaps fiveday winning streak
KUALA LUMPUR: Bursa Malaysia, which was on a winning streak for the whole of last week, ended lower yesterday amid a mixed regional performance due to profit-taking in heavyweight stocks led by glove counters.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 21.84 points to 1,662.74 from Friday’s close of 1,684.58.
It opened 2.12 points easier at 1,682.46 and moved between 1,662.45 and 1,695.96 throughout the day.
On the broader market, losers thumped gainers 964 to 461, while 368 counters were unchanged, 351 untraded and 22 others suspended.
Total volume increased to 11.88 billion shares worth RM7.20 billion from 10.03 billion shares valued at RM6.19 billion last Friday.
Regionally, China’s Shanghai Stock Exchange improved 0.66 per cent to 3,369.12, Singapore’s Straits Times Index gained 1.48 per cent to 2,863.45 and Japan’s Nikkei 225 rose 0.30 per cent to 26,732.44, but Hong Kong’s Hang Seng Index eased 0.44 per cent to 26,389.52.
A dealer said the regional market was mixed amid progress on Covid-19 vaccines, as the United States had begun shipping out the vaccines over the weekend.
The market sentiment was also supported by news that Britain and the European Union had agreed to continue Brexit trade talks beyond Sunday’s deadline, he said.
On the local front, Rakuten Trade Sdn Bhd head of research Kenny Yee said the market remained robust during most of trading in extending last Friday’s 18-month high close, riding on the recovery theme as well as the ongoing window-dressing period.
“But profit taking emerged, as market was really strong over the past week.
“In addition, the market also saw the persistent selling of rubber glove companies’ stocks towards the end of the trading session weighing on the barometer index on the back of the vaccine rollout,” he told Bernama.
Among the heavyweights, Maybank shed one sen to RM8.90, Public Bank and Top Glove fell 60 sen each to RM21.30 and RM6.30 respectively and Petronas Chemicals eased four sen to RM7.85, while Tenaga gained 26 sen to RM10.60.
Of the actives, Sino Hua-An rose three sen to 16.0 sen, AirAsia X gained 1.5 sen to 10.5 sen, and P.A Resources edged up half a sen to 18.5 sen.
Iris lost two sen to 37 sen while Focus Dynamics warrant was flat at 3.5 sen.
On the index board, the FBM Emas Index fell 153.75 points to 11,931.96, the FBMT 100 Index slipped 148.51 points to 11,700.23, the FBM 70 decreased 172.38 points to 15,197.63, the FBM Emas Shariah Index dropped 222.94 points to 13,208.59 and the FBM ACE tumbled 602.98 points to 10,468.12.