Selling in index-linked counters drags Bursa Malaysia lower

: Bursa retreated from yesterday’s gains to close lower today due to weak interest in index-linked counters amid mixed regional market performance.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.34 points to settle at 1,673.08 against Tuesday’s close of 1,679.42.

The market barometer moved between 1,668.43 and 1,676.34 during the session.

However, market breadth was positive with gainers outpacing losers 437 to 358, while 377 counters were unchanged, 704 untraded and 35 others suspended.

Total volume decreased slightly to 2.33 billion shares worth RM1.88 billion from Tuesday’s 2.40 billion shares valued at RM1.87 billion.

Inter- Research Sdn Bhd head of research Pong Teng Siew said Asian bourses were mixed today as market players were digesting the news flow, ahead of the trade talks between and the United States, which is scheduled to take place in Washington at the end of this month.

Speaking to Bernama today, he said the apprehensive feeling among investors that the trade war between these two powerhouses was still uncertain had overshadowed other positive news including the stimulus announcement.

The US trade representative Robert Lighthizer’s latest remarks that he did not see any progress made on structural issues during the talks between US and China last week further clouded market sentiment, he said.

Elsewhere, Hong Kong’s Hang Seng Index rose 0.27% to 26,902.1, Straits Times Index gained 0.52% to 3,229.11, Jakarta Composite Index added 0.07% to 6,413.36, South Korea’s Kospi bagged 0.43% to 2,106.1, but Japan’s Nikkei 225 lost 0.55% to 20,442.75.

Back home, dipped 28 sen to RM24.70, Tenaga trimmed 26 sen to RM13.58, while CIMB shed two sen to RM5.65.

However, Maybank and Petronas Chemicals added one sen each to RM9.42 and RM8.28.

Of actives, Sapura Energy inched down half-a-sen to 29 sen, FGV rose 1.5 sen to 94.5 sen and VS Industry bagged three sen to 87.5 sen.

Bursa Malaysia Leap Market debutant Supreme Consolidated Resources Bhd, which recorded a premium of 10 sen at the opening bell, closed 12 sen higher at 62 sen from its offer price of 50 sen.

The FBM Emas Index was 17.49 points lower at 11,580.89, the FBMT 100 Index decreased 22.59 points to 11,462.07 and the FBM Emas Syariah Index shed 5.05 points to 11,496.27.

The FBM Ace Index perked up 14.41 points to 4,474.19 and the FBM 70 rose 59.71 points to 13,670.26.

Sector-wise, the Plantation Index added 13.84 points to 7,150.6, the Industrial Products and Services Index added 0.07 of-a-point to 160.90, but the Finance Index fell 56.27 points to 17,401.75.

Main Market volume slipped marginally to 1.75 billion shares worth RM1.77 billion against 1.78 billion shares valued at RM1.75 billion recorded on Tuesday.

Warrants turnover expanded to 393.81 million units worth RM82.36 million from 372.37 million units valued at RM75.24 million yesterday.

Volume on the ACE Market shrank to 190.62 million shares worth RM30.66 million versus 246.28 million shares valued at RM47.44 million previously.

Consumer products and services accounted for 213.79 million shares traded on the Main Market, industrial products and services (335.62 million), construction (254.33 million), technology (220.66 million), SPAC (nil), financial services (36.79 million), property (122.61 million), plantations (102.81million), REITs (7.73 million), closed/fund (1,000), energy (268.58 million), healthcare (33.17 million), telecommunications and media (56.09 million), transportation and logistics (34.53 million), and utilities (60.29 million).

The physical price of as at 5pm stood at RM164.87 per gramme, up 66 sen from RM164.21 at 5pm yesterday. — Bernama

Source: The Sun Daily

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