At 5pm today, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.88 points to 1,798.61, after hovering between 1,797.01 and 1,802.54 through the day.

Mercury Securities head of research Edmund Tham told Bernama investors remained on the sidelines pending first-quarter corporate earnings announcements.
He said the prime minister’s announcement this morning failed to lift market sentiment, as the market had already digested the announcement, which was made during the 2015 Budget tabled last year.

However, Tham said, in the long term the reduction in tax should have a positive effect as companies would offer more attractive earnings.

On the scoreboard, the FBM Emas Index fell 45.101 points to 12,409.68, the FBMT100 Index 41.38 points to 12,089.65 and the FBM Emas Syariah Index 38.14 points to 12,895.08.

The FBM Ace lost 105 points at 6,889.52 and the FBM 70 27.529 points to 13,474.65. The Finance Index slid 57.41 points to 16,026.55, the Industrial Index 24.67 points to 3,258.06 and the Plantation Index 38 points to 7,417.78.

Losers thrashed gainers by 576 to 240, with 319 counters unchanged, 649 counters untraded and 11 others suspended.

Total volume was slightly higher at 1.62 billion units worth RM1.7 billion from yesterday’s 1.54 billion units worth RM1.6 billion.

Of the heavyweights, Maybank and Public Bank eased 4 sen each to RM9.28 and RM19.24 respectively, and Sime Darby lost 7 sen to RM8.95. TNB and Axiata added 2 sen each to RM13.82 and RM6.76 respectively.

Among actives, Kanger and Spring Gallery slipped 0.5 sen each to 26 sen and 64.5 sen respectively, and Vsolar lost 1.5 sen to 15.5 sen. RGB added 0.5 sen to 17 sen while Luster was flat at 10.5 sen.

Main Market volume increased to 852.59 million shares worth RM1.5 billion from 795.72 million shares worth RM1.41 billion yesterday.

Turnover on the ACE Market declined to 614.04 million shares valued at RM128.75 million from 622.27 million shares valued at RM146.76 million yesterday.
Warrants rose to 158.72 million units worth RM65.62 million from 120.39 million units worth RM38.78 million previously.

Consumer products accounted for 92.05 million shares traded on the Main Market, industrial products 201.12 million, construction 38.36 million, trade and services 330.28 million, technology 61.52 million, infrastructure 11.16 million, SPAC 14.18 million, finance 33.44 million, hotels 4.13 million, properties 51.58 million, plantations 12.04 million, mining 31,000, REITs 2.64 million and closed/fund 6,200. — Bernama