KUALA LUMPUR, Sept 25 — Bursa Malaysia closed on a weaker note today with the key index ending at its intra-day low, pressured by selling in heavyweights and in line with most regional markets on lingering concerns over the US-China trade dispute, dealers said.
The barometer index was mainly weighed down by selling in the telecommunication sector stocks led by Axiata which contributed 3.413 points to the index.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.70 points to close at 1,794.47 versus yesterday’s close of 1,800.17.
After opening 2.03 points lower today at 1,798.14, the index moved between 1,794.47 and 1,800.87 throughout the day.
However, on the broader market, gainers led losers by 393 to 384, with 397 counters unchanged, 724 untraded and 28 others suspended.
Volume increased to 1.86 billion units worth RM1.92 billion, from 1.64 billion units valued at RM1.50 billion recorded yesterday.
A dealer said Asian stock markets were mostly lower on fears that the latest development in the US-China trade conflict might impact the outlook for global trade, coupled with uncertainties surrounding the US interest rate hike.
“The Chinese government in the latest episode was reported to have accused the US President Donald Trump administration of bullying other countries, resulting in dampening hopes for a settlement in their escalating tariff war.
“Investors were also cautious ahead of the two-day Federal Open Market Committee meeting beginning later today. Markets will be looking at announcements emerging from the meeting in order to gauge the extent of the rate hike, going forward,” he said.
Meanwhile, he added that oil and gas stocks continued to attract interest after oil prices advanced overnight, with Brent crude oil price breaching US$80 per barrel.
The Hong Kong and South Korea bourses were closed for holidays today.
In regional markets, Singapore’s Strait Times index added 0.53 per cent to 3,236.08, Japan’s Nikkei 225 increased 0.29 per cent to 23,940.26, Shanghai’s SSE Index fell 0.58 per cent to 2,781.14, Indonesia’s Jakarta Composite Index eased 0.13 per cent to 5,874.30 and the Philippines PSE Index slipped 1.36 per cent to 7,332.17.
Among heavyweights, Maybank added one sen to RM9.80, Tenaga fell four sen to RM15.48, Petronas Chemicals shed five sen to RM9.41, CIMB Group eased three sen to RM6.00, while Public Bank was flat at RM25.00.
For actives, Sapura Energy added one sen to 44 sen, Hibiscus Petroleum rose five sen to RM1.18, V.S Industry warrant gained 7.5 sen to 28.5 sen and QES Group improved two sen to 34 sen.
Debutant on the Leading Entrepreneur Accelerator Platform (LEAP) Market, Amlex Holdings Bhd, edged up one sen to 16 sen at closing.
The FBM Emas Index slipped 27.11 points to 12,513.33, the FBMT 100 Index reduced 31.32 points to 12,320.26 and the FBM Emas Shariah Index fell 33.27 points to 12,647.64.
The FBM 70 eased 7.34 points to 14,757.23 while the FBM Ace Index rose 43.97 points to 5,192.87
Sector-wise, the Finance Index fell 31.20 points to 17,806.87, the Industrial Products and Services Index eased 0.14 of-a-point to 177.02, but the Plantation Index added 5.14 points to 7,530.56.
Main Market volume increased to 1.42 billion shares worth RM1.81 billion, from 1.17 billion shares worth RM1.40 billion yesterday.
Warrants’ turnover fell to 156.63 million units valued at RM19.37 million from 235.94 million units valued at RM54.51 million.
Volume on the ACE Market rose to 276.74 million units worth RM81.90 million from 235.47 million units worth RM44.36 million yesterday.
Consumer products and services accounted for 138.95 million shares traded on the Main Market, industrial products and services (279.99 million), construction (60.24 million), technology (172.78 million), SPAC (82,000), financial services (42.58 million), property (77.67 million), plantations (20.83 million), REITs (2.05 million), closed/fund (6,400), energy (528.39 million), healthcare (22.19 million), telecommunication and media (25.52 million), transportation and logistics (15.29 million) and utilities (37.57 million). — Bernama
