KUALA LUMPUR, May 6 ― The FTSE Bursa Malaysia KLCI (FBM KLCI) extended its losses at mid-day on continued selling pressure following the easier ringgit against the US dollar coupled with cautious stance by investors.
The benchmark index was in the red throughout the morning session and ended 0.74 of-a-point lower at 1,644.35 after moving between 1,644.91 and 1,633.18.
It opened 3.0 points lower at 1,642.09 from Thursday's close of 1,645.09.
Losers outpaced gainers 371 to 271 while 331 counters were unchanged, 730 untraded and seven others were suspended.
Turnover stood at 838.97 million shares worth RM788.58 million.
Kenanga Research said as the FBM KLCI has failed to gather a follow-through buying momentum on May 4, the key index is likely to trade lower towards the 1,642 points level later today.
“Resistance level is seen at 1,680 and 1,728 while support is located at 1,642 followed by 1,600 next,” it said in a note.
Meanwhile, a dealer said the US Non-Farm Payroll data due later today would today would set a clear direction for investors.
The FBM Emas Index fell 7.92 points to 11,478.67, FBMT100 Index eased 7.96 points to 11,171.33 and the FBM Emas Shariah Index fell 33.81 points to 12,026.54.
The FBM 70 declined 19.70 points to 12,889.47 but the FBM Ace gained 2.54 points to 5,652.05.
Sector-wise, the Finance Index jumped 57.40 points to 14,437.74, Plantation Index rose 6.00 points to 7,554.13 but the Industrial Index contracted 22.18 points to 3,125.56.
Of heavyweights, Maybank rose 10 sen to RM8.63, Tenaga added two sen to RM14.12, Public Bank improved 20 sen to RM18.96 while IGG was flat at RM6.51.
R&A Telecommunications, which was among the actives counters today, shed half-a-sen to one sen, Vivocom and Eka Noodles were flat at 34 sen and 12 sen, respectively, while Kanger added two sen to 24 sen.
Among losers, BAT lost RM1.80 to RM47.22 while Petronas Gas and Petronas Dagangan each fell 18 sen to RM21.62 and RM23.38, respectively. ― Bernama
