Bursa Malaysia ends in the red in line with regional markets

KUALA LUMPUR: Bursa Malaysia ended in the red yesterday, in line with regional markets, as concerns over the unrelenting 2019 novel coronavirus outbreak continue to cloud market sentiment.

At 5 pm, the FTSE Bursa Malaysia KLCI ( FBM KLCI) dropped 11.69 points to 1,542.80 from Friday’s close of 1,554.49.

After opening 2.58 points firmer at 1,557.07, the local index moved between 1,540.11 and 1,557.07 throughout the day.

On the broader market, losers led gainers 597 to 285, with 349 counters unchanged, 752 untraded and 36 others suspended.

Turnover decreased to 2.41 billion shares worth RM1.91 billion from 2.74 billion shares worth RM2.17 billion on Friday.

In a note, Malacca Securities Sdn Bhd said it expects the coronavirus outbreak to remain a key factor in dictating market sentiments, going forward.

“A pullback may see the key index supported above the 1,535 level. On the upside, further gains are located at the 1,570 level over the foreseeable future,” it added.

On the regional front, Hong Kong’s Hang Seng Index eased 0.59 per cent to 27,241.34, Singapore’s Straits Times Index fell 0.70 per cent to 3,159.32 and the Jakarta Composite Index declined 0.91 per cent to 5,945.09.

Among heavyweights on Bursa Malaysia, Maybank eased three sen to RM8.48, Tenaga declined 24 sen to RM12.50, while Public Bank and Petronas Chemicals lost six sen each to RM18.28 and RM6.39, respectively.

Of the actives, DGB Asia was one sen weaker at 8.5 sen, Securemetric eased half-a- sen to 20.5 sen, while Careplus added two sen to 34.5 sen.

On the index board, the FBM Emas Index declined 79.22 points to 10,980.94, the FBMT 100 Index fell 78.27 points to 10,782.44 and the FBM Emas Shariah Index decreased 83.37 points to 11,682.84.

The FBM 70 lost 85.75 points to 13,738.93 and the FBM Ace contracted 2.89 points to 5,518.89.

Sector-wise, the Industrial Products and Services Index eased 1.08 points to 144.30, the Plantation Index was down 12.28 points to 7,295.63 and the Financial Services Index was 109.32 points lower at 14,871.84

Main Market volume declined to 1.40 billion shares valued at RM1.63 billion from 1.54 billion shares valued at RM1.84 billion on Friday.

Warrants turnover decreased to 357.31 million units worth RM55.34 million from 406.22 million units worth RM57.40 million.

Volume on the ACE Market declined to 653.88 million shares valued at RM226.63 million from 788.18 million shares valued at RM260.27 million previously.