KUALA LUMPUR, March 8 — Shares on Bursa Malaysia closed lower across the board as investors took profit after three consecutive days of gains.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 10.07 points lower at 1,687.86 from the close yesterday of 1,697.93.
The index hovered between 1,684.53 and 1,706.08 throughout the day after it opened 2.89 points better at 1,700.82 this morning.
There were 568 losers to 286 gainers while 316 counters were unchanged, 557 untraded and 20 others suspended.
Volume fell to 2.01 billion shares valued at RM2.07 billion from 2.44 billion shares worth RM2.45 billion yesterday.
On the technical front, Kenanga Research said the index lost steam to stay above the key 1,700 level to sustain the uptrend. However, it said the moving average convergence divergence was still bullish on convergence, suggesting a positive underlying outlook.
“Hence, we maintain our view that the FBM KLCI will trade on an upward-bias trajectory within 1,680-1,727 this week,” it said in a note. “Next level of support could be found at 1,650 while immediate resistance is seen at 1,700.”
Among heavyweights, Maybank fell 5 sen to RM8.78, TNB was flat at RM13.30, Public Bank lost 10 sen to RM18.70 and Petronas Chemicals added a sen to RM6.86.
The most active stock today, Chin Hin, which debuted on the Main Market at 81 sen today, closed 17 sen higher at 82 sen with 122.53 million shares traded.
Other actives were AirAsia X and AirAsia, which declined 3.0 sen each to 28.5 sen and RM1.66 respectively, followed by XOX, down 2.0 sen at 15 sen.
On the scoreboard, the FBM Emas Index lost 68.29 points to 11,655.47, the FBMT100 Index dropped 65.22 points to 11,373.29 and the FBM Emas Shariah dipped 48.87 points to 12,339.34. The FBM 70 shed 63.95 points to 12,786.47 and the FBM Ace declined 110.91 points to 5,584.84.
Sector-wise, the Industrial Index inched down 8.91 points to 3,284.43, the Finance Index was 54.04 points lower at 14,339.44 and the Plantation Index decreased 18.39 points to 7,839.53.
Main Market volume fell to 1.4 billion units worth RM1.96 billion from 1.73 billion units worth RM2.33 billion recorded yesterday.
Turnover on the ACE Market went down to 385.7 million shares worth RM55.88 million from 465.30 million shares worth RM78.36 million.
Warrants narrowed to 211.79 million units worth RM42.36 million from 237.26 million units worth RM40.57 million.
Consumer products accounted for 67.12 million shares traded on the Main Market, industrial products (223.49 million), construction (37.05 million), trade and services (851.6 million), technology (22.21 million), infrastructure (6.88 million), SPAC (29.76 million), finance (47.97 million), hotels (1.82 million), properties (88.64 million), plantations (19.47 million), mining (NIL), REITs (10.27 million) and closed/fund (20,100). — Bernama
