Bursa Malaysia closes lower

Bursa Malaysia pared down earlier losses to close marginally lower today but remained weak amid continuous selling activities in the broader market. — Picture by Azneal Ishak
Bursa Malaysia pared down earlier losses to close marginally lower today but remained weak amid continuous selling activities in the broader market. — Picture by Azneal Ishak

KUALA LUMPUR, April 18 — Bursa Malaysia pared down earlier losses to close marginally lower today but remained weak amid continuous selling activities in the broader market.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.17 points to 1,619.73 against yesterday’s close of 1,620.9. 

The index opened 3.23 points lower at 1,617.67 and fluctuated between 1,609.83 and 1,620.55 throughout the day.

In a research note earlier today, Maybank Investment Bank said negative news flows had dampened investor appetite, although the Malaysian equities market could be ripe for bargain-hunting in the near term.

The weaker Bursa Malaysia performance was also in line with its regional peers.

Japan’s Nikkei 225 declined 0.84 per cent to 22,090.12, Hong Kong’s Hang Seng Index eased 0.54 per cent to 29,963.26 and Singapore’s Straits Times Index went down 0.03 per cent to 3,347.58, while Indonesia’s Jakarta Composite Index advanced 0.40 per cent to 6,507.22.

FXTM chief market strategist Hussein Sayed said Asian equities followed the weaker Wall Street overnight performance today, with only the Jakarta Stock Exchange moving against the trend early on.

“This is due unofficial ‘quick count’ results indicating that Indonesian President Joko Widodo is on course to win a second term. However, the official results will only be announced on May 22,” he said in a note today.

Back home, market breadth on Bursa Malaysia was negative with 453 losers and 397 gainers, while 392 counters were unchanged, 654 untraded and 22 others suspended.

Volume was lower at 2.89 billion units worth RM2.17 billion against yesterday’s 3.10 billion units worth RM1.85 billion. 

Of the heavyweights, Petronas Chemicals added one sen to RM8.93, Tenaga rose 10 sen to RM12.16 while Maybank, CIMB and Axiata were all flat at RM9, RM5.05 and RM4.08, respectively.

Public Bank eased two sen to RM22.58, IHH Healthcare shaved off five sen to RM5.48, Hong Leong Bank decreased six sen to RM19.94 and Maxis gave up 12 sen to RM5.41. 

Of the actives, Orion IXL rose one sen to 18 sen, Iskandar Waterfront gained three sen to 86 sen, Bumi Armada was flat at 19 sen, Sapura Energy declined one sen to 31.5 sen and Impiana Hotels slid half-a-sen to six sen.

Meanwhile, trading in Seacera Group Bhd’s securities was halted with effect from 3.30 pm today until 9am tomorrow.  

The FBM Emas Index declined 4.46 points to 11,467.12, the FBMT100 slipped 6.32 points to 11,298.09 and the FBM 70 inched down 0.55 of-a-point to 14,306.13.

The FBM Emas Shariah Index fell 3.95 points to 11,681.87 and the FBM Ace Index advanced 65.39 points to 4,664.48. 

Sector-wise, the Financial Services Index trimmed 2.96 points to 16,684.36, the Plantation Index shed 7.26 points to 7,218.68, while the Industrial Products and Services Index added 0.05 of-a-point to 167.81.   

Main Market volume decreased to 1.95 billion shares worth RM1.99 billion against 2.18 billion shares worth RM1.69 billion yesterday.  

Warrants turnover increased to 416.81 million units valued at RM89.25 million from 379.85 million units valued at RM78.74 million yesterday.

Volume on the ACE Market eased to 513.24 million shares worth RM92.01 million from 531.76 million shares worth RM80.09 million.  

Consumer products and services accounted for 308.69 million shares traded on the Main Market, industrial products and services (355.83 million), construction (309.80 million), technology (131.33 million), SPAC (nil), financial services (64.51 million), property (164.46 million), plantation (24.72 million), REITs (13.31 million), closed/fund (8,500), energy (477.49 million), healthcare (27.52 million), telecommunications and media (30.89 million), transportation and logistics (20.59 million), and utilities (25.65 million). — Bernama