Bursa Malaysia Snaps 3-Day Winning Streak to End Marginally Lower


Bursa Malaysia snapped a three-day winning streak to end marginally lower today dragged by profit-taking, said a dealer.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped by 1.15 points to 1,434.74 from yesterday’s close of 1,435.89.

The barometer index opened 1.13 points higher at 1,437.02 and moved between 1,429.00 and 1,437.08 throughout the day.

The market breadth was negative as decliners surpassed gainers 469 to 359, while 424 counters were unchanged, 1,011 untraded and 23 others suspended.

Turnover stood at 2.79 billion units worth RM1.78 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said, regionally, the key indices closed mixed following the mixed cue from global equities overnight.

Besides, investors are cautiously awaiting the United States Consumer Price Index data which will be released tonight.

“Despite the cautious sentiment in the region, we expect the outlook of local equity market to remain positive due to undemanding valuations and improving economic conditions.

“As such, we anticipate the FBM KLCI to trend within the 1,430-1,445 range for the remainder of the week,” he told Bernama.

Among the heavyweights, Maybank decreased three sen to RM8.70, Tenaga Nasional slipped 12 sen to RM9.01, while CIMB rose two sen to RM5.24, Public Bank gained three sen to RM4.02, and Petronas Chemicals increased three sen to RM7.39.

As for the actives, Revenue added six sen to 33 sen, Hong Seng gained half-a-sen to 13 sen, My EG perked up 2.5 sen to 77 sen, while Velesto shed half-a-sen to 23 sen and Top Glove dropped three sen to RM1.12.

On the index board, the FBM Emas Index improved 1.17 points to 10,555.96, the FBM 70 index put on 29.11 points to 13,814.87, while the FBMT 100 Index gave up 0.90 of-a-point to 10,234.58, the FBM Emas Shariah Index fell 8.96 points to 10,902.97, and the FBM ACE Index was 37.43 points lower at 5,308.90.

Sector-wise, the Financial Services Index garnered 1.25 points to 15,784.92, the Energy Index expanded by 9.74 points to 882.56, the Plantation Index rose 17.44 points to 6,857.97, while the Industrial Products and Services Index eased 0.07 of-a-point to 175.21.

The Main Market volume declined to 1.90 billion units worth RM1.56 billion from 2.14 billion units worth RM1.57 billion on Tuesday.

Warrants turnover shrank to 316.66 million units worth RM44.99 million against 381.61 million units worth RM68.98 million previously.

The ACE Market volume advanced to 574.44 million shares worth RM176.68 million versus 524.51 million shares worth RM188.01 million yesterday.

Source: The Star