KUALA LUMPUR, June 18— Bursa Malaysia ended lower today on broad selling momentum, lower economic growth projection and also in line with most regional markets following spiking Covid-19 cases. 

The Asian Development Bank said Malaysia’s gross domestic product growth is forecast to contract 4.0 per cent this year and grow 6.5 per cent in 2021.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 21.41 points or 1.40 per cent to end the day at 1,504.91 from yesterday’s close of 1,526.32.  

The index opened 1.81 points easier at 1,524.51 and hovered between 1,503.35 and 1,525.69 throughout the trading session.

The overall market breadth was negative with decliners outpacing gainers 685 to 300, while 381 counters were unchanged, 578 untraded and 38 others suspended.

Total volume decreased to 5.12 billion shares worth RM3.87 billion from 7.55 billion shares worth RM3.82 billion yesterday.  

AxiCorp chief global market strategist Stephen Innes said the FBM KLCI struggled throughout most of the day as did most regional bourses dealing with Covid-19 resurgence headlines, tensions in the Korean Peninsula, wobbly oil prices, and domestic political uncertainty.

"So a smorgasbord of negativity but things are looking a bit better in the afternoon with oil prices rising and risk asset trading more favourably after a virus expert from the Chinese Centre for Disease Control and Prevention says Beijing’s new Covid-19 outbreak has been contained,” he told Bernama.

Brent crude rose 1.11 per cent to US$41.16 (RM176) per barrel.

In its Asian Development Outlook 2020 (ADO 2020) released today, ADB said South-east Asia had suffered broad declines in consumption, investment and trade.

The bank added that the more open economies of Malaysia, Singapore, Thailand and Vietnam were hit by slumping global trade and demand.

Regionally, Singapore’s Straits Times Index gained 0.04 per cent to 2,670.59, Hong Kong’s Hang Seng Index eased 0.07 per cent to 24,464.94 and Japan’s Nikkei 225 fell 0.45 per cent to 22,355.46.

Among the heavyweights, IHH Healthcare added one sen to RM5.40, Maybank trimmed six sen to RM7.71, TNB shed eight sen to RM11.80, Public Bank shed 16 sen to M16.80, Petronas Chemicals and Maxis declined 12 sen each to RM6.38 and RM5.33 respectively, while Top Glove lost RM1 to RM14.70.

Of the most active, Minetech Resources and KNM edged up half-a-sen to 31 sen and 31 sen, ConnectCounty advanced 4.5 sen to 34.5 sen, Datasonic jumped 12 sen to RM1.52, MY E.G improved three sen to RM1.53, MQ Technology was flat at four sen and MTouche inched down half-a-sen to 7.5 sen.

On the index board, the FBM Emas Index slipped 142.5 points to 10,581.87, the FBMT 100 Index went down 144.18 points to 10,436.53 and the FBM 70 was 161.33 points weaker at 12,954.02.  

The FBM Emas Shariah Index slid 184.12 points to 11,929.62 and the FBM ACE decreased 74.73 points to 5,905.4.  

Sector-wise, the Industrial Products and Services Index discounted 1.41 point to 134.72, the Plantation Index fell 61.64 points to 6,713.4 and the Financial Services Index depreciated 143.68 points to 13,074.77.  

Main Market volume decreased to 3.0 billion shares worth RM3.39 billion from yesterday’s 3.91 billion shares worth RM3.08 billion.  

Warrants turnover appreciated to 558.84 million units worth RM131.08 million from 502.69 million units worth RM100.47 million yesterday.

Volume on the ACE Market dropped to 1.56 billion shares worth RM351.02 million from 3.13 billion shares worth RM641.86 million.  

Consumer products and services accounted for 524.52 billion shares traded on the Main Market, industrial products and services (574.55 million), construction (212.34 million), technology (482.37 million), SPAC (nil), financial services (41.45 million), property (146.40 million), plantations (59.23 million), REITs (13.92 million), closed/fund (550,600), energy (544.85 billion), healthcare (120.79 million), telecommunications and media (88.47 million), transportation and logistics (182.13 million), and utilities (13.48 million). — Bernama