Bursa ends lower on continued selling

Market breadth was positive with 492 gainers and 349 losers, while 333 counters were unchanged, 694 untraded and 22 others suspended. — Picture by Razak Ghazali
Market breadth was positive with 492 gainers and 349 losers, while 333 counters were unchanged, 694 untraded and 22 others suspended. — Picture by Razak Ghazali

, Jan 4 — Bursa closed lower today on continued selling in selected heavyweights, amid lingering concerns on the turbulence across global markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished Friday trading at 1,669.78, down 6.05 points from Thursday’s close of 1,675.83.

The barometer index moved between 1,668.15 and 1,676.55 throughout the day, after opening 3.25 points weaker at 1,672.58.

Market breadth was however positive with 492 gainers and 349 losers, while 333 counters were unchanged, 694 untraded and 22 others suspended.



Total volume was higher at 2.20 billion shares worth RM1.29 billion versus 1.76 billion shares worth RM1.22 billion.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said generally businesses had become more risk averse as some countries especially in and ASEAN had recorded below the 50-point demarcation line in their manufacturing index.

“In fact, the US ISM manufacturing index has shown similar trend whereby it has fallen by 5.2 points to 54.1 in December 2018.

“Naturally, businesses would reduce their capital expenditure and labour hiring as they would become wary on demand prospects,” he said.

Among heavyweights, Maybank fell one sen to RM9.35, Tenaga declined 30 sen to RM13.46, Petronas Chemicals slipped six sen to RM9.26 while rose six sen to RM24.66.

Of actives, PUC was flat at 11 sen, Hibiscus Petroleum rose six sen to 89.5 sen, KUB gained two sen to 39.5 sen while Bumi Armada added half-a-sen to 15.5 sen. — Bernama

Source: The Malay Mail Online







Leave a Reply

Your email address will not be published. Required fields are marked as *

Time limit is exhausted. Please reload CAPTCHA.