Bursa Malaysia ends trading on negative note

Bursa Malaysia finished trading today on a negative note, in sync with some key regional bourses. — Picture by Hari Angara
Bursa Malaysia finished trading today on a negative note, in sync with some key regional bourses. — Picture by Hari Angara

KUALA LUMPUR, May 10 — Bursa Malaysia finished trading today on a negative note, in sync with some key regional bourses amid mounting worries over the global economy outlook.

The jitters in the external market sparked by the ongoing US-China two-day trade meeting have spilled over into the local bourse.

Leading losers in the decliners list included consumer products and services related counters — Nestle, which lost RM1 to RM144.00, while F&N declined 48 sen to RM33.38.

The benchmark FTSE Bursa Malaysia KLCI dipped 8.26 points to 1,610.27 against yesterday’s close of 1,618.53.

The index, which opened at 1,615.91, down by 2.62 points, moved between 1,610.27 and 1,620.40 throughout the day.  

Overall, losers outnumbered gainers 465 to 335 with 404 counters unchanged, 706 untraded and 24 others suspended.

Turnover increased to 2.29 billion shares worth RM1.84 billion from 2.14 billion shares worth RM2.02 billion recorded yesterday.

A dealer said concerns over the trade talks progress by Washington and Beijing had dragged Malaysian palm oil futures price down by 1 per cent.

Plantation stocks such as IOI Corp lost 11 sen to RM4.24, Sime Darby Plantation fell four sen to RM4.95 and Kuala Lumpur Kepong was 14 sen lower at RM24.50.

Among the heavyweights, Maybank was flat at RM8.97, Public Bank fell two sen to RM22.26 while Petronas Chemicals was one sen lower at RM8.89.

Of the actively-traded stocks, Bumi Armada inched down one sen to 20 sen, Ekovest added half-a-sen to 88 sen while its warrants were 1.5 sen better at 39.5 sen.

The FBM Emas Index declined 53.02 points to 11,374.96, the FBMT 100 dipped 52.71 points to 11,205.05 and the FBM 70 lost 46.95 points to 14,079.05.

The FBM Emas Shariah Index erased 82.96 points to 11,550.43 and the FBM Ace Index was down 12.11 points to 4,532.57.

Sector-wise, the Financial Services Index dropped 33.72 points to 16,566.18, the Plantation Index fell 57.47 points to 7,050.28 and the Industrial Products and Services Index was 0.41 of-a-point lower at 166.68.

Main Market volume rose to 1.48 billion shares valued at RM1.67 billion from 1.33 billion shares valued at RM1.85 billion recorded yesterday.

Warrants turnover increased to 439.87 million units worth RM122.21 million versus 399.71 million units worth RM114.40 million.

Volume on the ACE Market decreased to 366.31 million shares valued at RM49.46 million from 411.74 million shares valued at RM56.02 million.

Consumer products and services accounted for 196.97 million shares traded on the Main Market, industrial products and services (168.35 million), construction (319.07 million), technology (77.78 million), SPAC (nil), financial services (46.80 million), property (141.59 million), plantation (23.26 million), REITs (12.38 million), closed/fund (0), energy (409.50 million), healthcare (21.89 million), telecommunications and media (28.17 million), transportation and logistics (13.76 million) and utilities (16.71 million). — Bernama