Bursa Malaysia ends at nearly two-year low

KUALA LUMPUR, Dec 10 — Bursa Malaysia closed trading at a nearly two-year low today with the key index slumping 1.025 per cent, as heightened US-China trade worries battered sentiment globally, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 17.23 points to 1,663.31 after fluctuating between 1,662.81 and 1,674.67 throughout the day.

The stock market barometer finished weaker at 1,663.03 on Jan 17 last year.

Losses in Sime Darby Plantation and CIMB dragged the composite index down by a total of 4.744 points, after falling 21 sen to RM4.48 and 13 sen to RM5.65 respectively.

On the broader market, losers hammered gainers 612 to 194, while 332 counters were unchanged, 731 untraded and 25 others suspended.

Volume increased to 2.65 billion units valued at RM1.37 billion from 1.91 billion units valued at RM1.51 billion last Friday.

A dealer said Bursa’s downtrend was in tandem with most of its Asian peers, which were still in the red since last week, amid the US stock market uncertainty coupled with mounting concerns about global growth.

“Despite better oil prices, Bursa and Asian shares were under pressure as trade tensions between Washington and Beijing continued to weigh on sentiment.

“They (investors) fear that a rise in tensions between both administrations could dampen chances of a trade deal,” he told Bernama.

Among heavyweights, Maybank inched down half-a-sen to RM9.37, Public Bank lost 10 sen to RM24.70, Tenaga trimmed 14 sen to RM13.56, while Petronas Chemicals slipped one sen to RM9.19.

Of actives, Tatt Giap and Bumi Armada shed one sen each to half-a-sen and 15.5 sen, Prestariang slid 15 sen to 30.5 sen. Sanichi inched down half-a-sen to 13.5 sen, while MyEG depreciated nine sen to RM1.05.

The FBM Emas Shariah Index was 146.48 points weaker at 11,461.75, the FBM Ace Index fell 87.99 points to 4,596.26, and the FBM 70 erased 203.16 points to 13,319.83.

The FBM Emas Index gave up 134.04 points for 11,463.5 and the FBMT 100 Index edged down 130.47 points to 11,349.45.

Sector-wise, the Plantation Index lost 152.88 points to 6,682.23, the Industrial Products and Services Index eased 0.74 point to 168.3 and the Financial Services Index decreased 159.12 points to 17,275.91.

Main Market volume rose to 2.12 billion shares worth RM1.26 billion from 1.391 billion shares valued at RM1.392 billion last Friday.

Warrants turnover widened to 345.03 million units valued at RM81.35 million from 306.09 million units valued at RM75.48 million.

Volume on the ACE Market declined to 187.23 million shares valued at RM31.29 million compared with 215.14 million shares valued at RM39.49 million.

Consumer products and services accounted for 143.25 million shares traded on the Main Market, industrial products and services (1.3 billion), construction (55.54 million), technology (187.47 million), SPAC (15,200), financial services (23.93 million), property (74.02 million), plantations (18.96 million), REITs (2.72 million), closed/fund (24,000), energy (191.39 million), healthcare (35.14 million), telecommunication and media (23.49 million), transportation and logistics (45.61 million), and utilities (16.41 million). — Bernama