KUALA LUMPUR, May 9 — Bursa Malaysia ended the day in the red on persistent selling across the board, amid weaker regional equities, and the recent reduction in the overnight policy rate (OPR) by Bank Negara Malaysia.
The benchmark FTSE Bursa Malaysia KLCI lost 15.02 points to 1,618.53 against Wednesday’s close of 1,633.55, with Nestle, which declined RM3.40 to RM145, driving losses.
The index opened at 1,629.61, down by 3.94 points, and hovered between 1,618.33 and 1,63044 throughout the day.
Overall, losers outnumbered gainers 610 to 246 with 333 counters unchanged, 721 untraded and 23 others suspended.
Turnover decreased to 2.14 billion shares worth RM2.02 billion from 2.47 billion shares worth RM2.06 billion recorded yesterday.
“The external factors are not really in favour of the local bourse,” Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama.
He said central banks such as those in China and India had begun loosening their monetary policies to stimulate the economy, adding, the trade tension between the US and China was unsettling with geopolitical risks having also escalated.
Rakuten Trade, however, remained positive on the equities market primarily due to the push by the government, which it believed is seriously looking at improving the ailing domestic economy.
Meanwhile, the OPR cut saw banking stocks mostly lower, led by Public Bank which fell 12 sen to RM22.28, CIMB easing seven sen to RM5.13 and Hong Leong 24 sen weaker at RM19.62.
Among the heavyweights, Maybank was flat at RM8.97, Petronas Chemicals slipped two sen to RM8.90, while Tenaga was eight sen lower at RM11.94.
Of the actively-traded stocks, Bumi Armada rose half-a-sen to 21 sen, while Lambo and Impiana were flat at eight sen and 1.5 sen respectively.
The FBM Emas Index declined 110.04 points to 11,427.98, the FBMT 100 depreciated 110.28 points to 11,257.76 and the FBM 70 lost 162.03 points to 14,126.00.
The FBM Emas Shariah Index eased 131.14 points to 11,633.39 and the FBM Ace Index was down 13.20 points to 4,544.68.
Sector-wise, the Financial Services Index dropped 106.34 points to 16,599.90, the Plantation Index fell 58.03 points to 7,107.75 and the Industrial Products and Services Index was 0.71 of-a-point lower at 167.09.
Main Market volume fell to 1.33 billion shares valued at RM1.85 billion from 1.35 billion shares valued at RM1.8 billion recorded yesterday.
Warrants turnover decreased to 399.71 million units worth RM114.40 million versus 554.39 million units worth RM170.12 million.
Volume on the ACE Market declined to 411.74 million shares valued at RM56.02 million against 562.39 million shares valued at RM89.53 million.
Consumer products and services accounted for 271.15 million shares traded on the Main Market, industrial products and services (162.75 million), construction (266.87 million), technology (72.85 million), SPAC (nil), financial services (53.06 million), property (104.06 million), plantation (24.02 million), REITs (14.19 million), closed/fund (10,000), energy (294.66 million), healthcare (25.08 million), telecommunications and media (38.50 million), transportation and logistics (20.95 million) and utilities (21.47 million). — Bernama