Bursa Malaysia ends lower

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower yesterday amid the bearish sentiment on regional markets following the overnight drop on Wall Street, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) ended 7.51 points or 0.45 per cent weaker at 1,670.55, from Tuesday’s close of 1,678.06.

The FBM KLCI, which opened 4.29 points better at 1,682.35, fluctuated between 1,668.70 and 1,682.35 throughout the day.

The local bourse was closed on Wednesday for the Merdeka day celebration.

Market breadth was negative as losers led gainers 564 to 279 while 359 counters were unchanged, 470 untraded and 14 others were suspended.

Volume fell to 1.810 billion units, worth RM2.028 billion, against Tuesday’s 1.997 billion units worth RM2.26 billion.

Dealers said local bourse eased further in line with the US’ Dow Jones industrial average that lost 53.42 points to 18,400.88 and the Standard & Poor’s 500 index which fell 5.17 points to 2,170.95 on Wednesday.

“The weakening of the ringgit, due to decreasing oil prices and lack of buying interest, pressured the FBM KLCI,” a dealer said.

The market saw 22 out of 30 index- linked stocks declining, led by Maybank which dropped seven sen to RM7.75 but BAT rose 22 sen to RM49.44 and this helped cap further loses.

Investors were currently focusing on US job data, to be realeased on Friday, a dealer said, adding that the statistics would be a key factor in the timing of interest rate hikes.

On the scoreboard, the FBM Emas Index fell 47.94 points to 11,735.46, FBMT100 Index lost 47.07 points to 11,449.71 and the FBM Ace decreased 57.88 points to 5,201.15.

The FBM Emas Shariah Index was 48.89 points lower at 12,381.61, the FBM 70 dropped 39.89 points to 13,575.77.

Sector- wise, the Finance Index was 84.25 points lower at 14,343.77, the Industrial Index slipped 11.06 points to 3,140.01 and the Plantation Index gave up 41.86 points to 7,794.98.

Of heavyweights, TNB decreased four sen to RM14.70, IHH Healthcare rose two sen to RM6.56 and Petronas Chemicals was flat at RM6.69.

Sime Darby and Axiata dropped seven sen each to RM7.82 and RM5.42, respectively.

Among actives, AirAsia X gained two sen to 39.5 sen, NETX slipped half- a- sen to 2.5 sen while MYEG was flat at RM2.19.

Main Market turnover fell to 1.06 billion shares, worth RM1.92 billion, from Tuesday’s 1.15 billion shares worth RM2.14 billion .

The ACE Market volume decreased to 330.64 million units, valued at RM48.09 million, from 442.73 million units valued at RM50.24 million, registered on Tuesday.

Warrants increased to 411.21 million shares, worth RM59.46 million, from 403.35 million shares, worth RM66.46 million, previously.

Consumer products accounted for 149.17 million shares traded on the Main Market, industrial products ( 203.20 million), construction ( 57.39 million), trade and services ( 380.04 million), technology ( 71.51 million), infrastructure ( 11.33 million), SPAC ( 26.98 million), finance ( 66.68 million), hotels ( 11,200), properties ( 63.98 million), plantations ( 30.83 million), mining ( 58,300), REITs ( 5.33 million) and closed/ fund ( 200).