KUALA LUMPUR, May 3 — Bursa Malaysia extended losses for the seventh consecutive day to close sharply lower today on net selling by most foreign funds, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 21.28 points to close at 1,651.44 from Friday’s close of 1,672.72.

It opened 1.79 points higher at 1,674.51 and moved between 1,649.79 and 1,676.03 throughout the day.

Market breadth was negative with losers overwhelming gainers by 624 to 221 with 324 counters unchanged, 526 counters untraded and seven others suspended.

Total volume increased to 1.69 billion shares worth RM1.73 billion from Friday’s 1.50 billion shares valued at RM2.09 billion.

Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said foreign funds have been selling since March this year and viewed it as a normal cycle.

“It is usual for foreign funds to start taking profits irrespective of external or internal factors. The activities are being prolonged and there is nothing unusual about it,” Pong told Bernama.

For heavyweights, Maybank and IHH Healthcare fell 15 sen each to RM8.78 and RM6.40, respectively, TNB slipped 28 sen to RM14.08 and Public Bank shed 14 sen at RM18.56.

Among active stocks, Vivocom added 1.5 sen to 34 sen, SapuraKencana fell one sen to RM1.64 and Spring Gallery dropped 24.5 sen to 65.5 sen.

The FBM Emas Index fell 133.02 points to 11,504.99, the FBMT100 Index decreased 129.71 points to 11,204.48 and the FBM Emas Shariah Index slipped 120.23 points to 12,088.76.

The FBM 70 lost 96.61 points to 12,874.05 while the FBM Ace perked 1.55 points to 5,618.64.

Sector-wise, the Finance Index declined 177.97 points to 14,409.32, the Industrial Index shed 40.06 points to 3,134.04 and the Plantation Index slid 89.76 points to 7,621.09.

Main Market turnover rose to 1.16 billion units worth RM1.62 billion from Friday’s 1.04 billion units valued at RM2.0 billion.

The ACE Market turnover rose to 352.25 million units worth RM75.27 million from 250.75 million units valued at RM51.91 million recorded on Friday.

Warrants decreased to 172.25 million units worth RM28.82 million from 204.29 million units valued at RM30.51 million previously.

Consumer products accounted for 203.92 million shares traded on the Main Market, industrial products (189.96 million), construction (51.28 million), trade and services (414.01 million), technology (31.94 million), infrastructure (9.02 million), SPAC (122.35 million), finance (37.92 million), hotels (2.10 million), properties (81.67 million), plantations (18.08 million), mining (18,000), REITs (6.53 million) and closed/fund (32,300). — Bernama