KUALA LUMPUR, May 31 — Bursa Malaysia closed lower today, prompted by continuous selling pressure in selected heavyweights coupled with a weak ringgit, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 3.87 points to 1,626 after opening 1.10 points weaker at 1,628.77.

It hovered between 1,624.34 and 1,633.08 throughout the day.

A dealer said that most Asian stocks were higher today, reflecting the better-than-expected Japanese economic data for April.

“Market sentiment was relatively upbeat as investors found some solace in the latest economic data from Japan, which showed factory output and consumer spending data improved in April,” he said.

Investors were also awaiting the release of latest monthly manufacturing index in China, due tomorrow, and an Organisation of the Petroleum Exporting Countries meeting on Thursday as they seek to gauge the world economic outlook.

Another dealer expected the market to focus on the US data tonight on concerns over whether the US Federal Reserve would push ahead with interest rate hikes.

The FBM Emas Index fell 10.38 points to 11,390.69, the FBMT100 Index slipped 11.98 points to 11,084.78 but the FBM Emas Shariah Index was 6.44 points better at 11,922.64.

The FBM 70 gained 37.17 points to 12,925.51 while the FBM Ace dipped 32.59 points to 5,489.79.

The Finance Index shed 37.80 points to 14,169.43, the Plantation Index decreased 4.05 points to 7,446.92 and the Industrial Index eased 0.31 of a point to 3,087.27.

Market breadth was negative as losers thumped gainers 434 to 356 with 352 counters unchanged, 600 untraded and 55 were suspended.

Volume surged to 2.69 billion units, worth RM6.71 billion, from 1.56 billion units, worth RM1.65 billion, traded yesterday.

Among heavyweights, Maybank declined seven sen to RM8.16, TNB slipped two sen to RM13.98, IHH Healthcare dipped six sen to RM6.46 while Public Bank was flat at RM19.12.

Among actives, Bumi Armada gave up three sen to 65 sen, IOI Corp lost four sen to RM4.14, Sime Darby contracted five sen to RM7.41 while CIMB was flat at RM4.39.

Main Market turnover jumped to 2.16 billion shares, worth RM6.61 billion, from yesterday’s 856.48 million shares worth RM1.53 billion.

ACE Market volume decreased to 349.41 million shares, valued at RM70.41 million, from 524.24 million shares valued at RM88.96 million.

Warrants decreased to 160.84 million units, worth RM22.04 million, from 161.56 million units, worth RM24.71 million, previously.

Consumer products accounted for 104 million shares traded on the Main Market, industrial products (255.66 million), construction (78.59 million), trade and services (954.39 million), technology (31.21 million), infrastructure (27.89 million), SPAC (7.55 million), finance (447.19 million), hotels (522,800), properties (152.56 million), plantations (94.07 million), mining (15,000), REITs (8.20 million) and closed/fund (12,600). — Bernama