Bursa Malaysia ends lower

KUALA LUMPUR: Bursa Malaysia ended in the red yesterday, with the key index falling slightly below the 1,500-level amid lack of positive catalysts.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell sharply by 47.19 points or 3.05 per cent to end the day at 1,498.83 from Friday’s close of 1,546.02.

The index opened 2.03 points higher at 1,548.05 and hovered between 1,490.44 and 1,548.05 throughout the trading session.

The overall market breadth was negative with decliners thumping gainers 1,107 to 159, while 227 counters were unchanged, 416 untraded and 20 others suspended.

Total volume increased to 9.07 billion shares worth RM5.32 billion from last Friday’s 8.03 billion shares worth RM4.77 billion.

A dealer said investors turned risk averse due to fears of Covid19 resurgence and weak oil prices.

In the domestic front, Malaysia recorded an unemployment rate spiked five per cent – the highest since 1990 – as unemployed persons went up 48.8 per cent year-on-year to 778,800 persons as the closure of operations for most businesses during the Movement Control Order has impacted employment while job seekers could hardly find jobs.

Among the heavyweights, Maybank trimmed 21 sen to RM7.70, TNB eased six sen to RM11.82, Public Bank went down 38 sen to RM16.42, Petronas Chemicals decreased 40 sen to RM6.47, IHH Healthcare shed one sen to RM5.42, and Top Glove lost RM1.70 to RM15.20.

Of the most actives, Asia Poly Holdings added one sen to 12.5 sen, VSolar rose two sen to 5.5 sen, while Pegasus and Minetech were flat at 1.5 sen and 28 sen, respectively, AT Systematization eased one sen to 13.5 sen, Luster Industries was two sen easier at 11.5 sen, and K-One reduced 4.5 sen to 47.5 sen.

On the index board, the FBM Emas Index slipped 369.30 points to 10,499.85, the FBMT 100 Index fell 357.15 points to 10,374.62 and the FBM 70 tumbled 565.75 points to 12,796.4.

The FBM Emas Shariah Index declined 420.64 points to 11,896.55 and the FBM ACE eased 277.76 points to 5,550.91.

Sector-wise, the Industrial Products and Services Index was 6.94 points weaker at 132.64, the Plantation Index slipped 102.76 points to 6,683.28 and the Financial Services Index lost 424.47 points to 12,985.73.

Main Market volume increased to 5.20 billion shares worth RM4.38 billion from 4.43 billion shares worth RM3.82 billion last Friday.

Warrants turnover appreciated to 809.69 million units valued at RM213.66 million from 652.41 million units valued at RM163.98 million.

Volume on the ACE Market improved to 3.05 billion shares worth RM728.18 million from 2.94 billion shares worth RM781.90 million previously.