Bursa Malaysia ends marginally lower

A view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur May 14, 2018. — Picture by Razak Ghazali
A view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur May 14, 2018. — Picture by Razak Ghazali

KUALA LUMPUR, June 11 — Bursa Malaysia ended marginally lower but at the day’s high on last-minute buying support in selected heavyweight stocks led by IHH Healthcare and Tenaga.

The bourses in Asia were mostly lower, taking their cue from weaker overnight trading on Wall Street, which snapped its longest winning streak in two months on renewed jitters over the US-Sino trade spat as investors waited for the latest batch of economic data from the world’s two largest economies for direction, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 0.46 of a point lower at 1,650.74 compared with Tuesday’s close of 1,651.20.

The barometer index, which opened 4.53 points weaker at 1,646.67 this morning, moved between 1,642.11 and 1,650.74 throughout the day.

Market breadth was negative as losers led gainers 446 to 317, while 406 counters were unchanged, 719 untraded and 31 others suspended.

Turnover decreased to 1.76 billion units worth RM1.60 billion from 2.24 billion units valued at RM2.03 billion recorded on Tuesday.

A dealer said Bursa Malaysia was in the red for the whole trading session today, pressured by selling in heavyweight stocks, extending yesterday’s retreat as the market started to taper off amid toppish technical indicators after gains over the past few weeks.

“Investors are digesting the new round of the US-China trade standoff as US President Donald Trump takes a tough line on trade talks with China even amid more signs of global economic stimulus,” he said.

Meanwhile, Asian shares were traded mostly lower amid signs of fatigue in the recent revival in risk appetite.

Regionally, the Singapore Straits Times Index slid 0.20 per cent to 3,202.21, Japan’s Nikkei was 0.35 per cent lower at 21,129.72, Hong Kong’s Hang Seng fell 1.73 per cent to 27,308.46, South Korea’s Kospi eased 0.14 per cent to 2,108.75 and Shanghai’s SSE slipped 0.56 per cent to 2,909.38.

Among the heavyweights, Maybank added one sen to RM9.00, Tenaga gained six sen to RM12.54, Petronas Chemicals shed four sen to RM8.33, CIMB eased two sen to RM5.30, and Public Bank was flat at RM23.48.

Of the actively-traded stocks, main market debutant HPMT Holdings declined six sen to 50 sen, Macpie added 1.5 sen to 19.5 sen, Iskandar Waterfront bagged 2.5 sen to 97 sen while Ekovest was flat at 83 sen.

The FBM Emas Index improved 1.52 points to 11,630.91, the FBMT 100 Index increased 2.29 points to 11,481.16 and the FBM Emas Shariah Index gained 4.64 points to 11,845.07.

The FBM 70 rose 25.17 points to 14,404 and the FBM Ace jumped 44.75 points to 4,448.95.

Sector-wise, the Financial Services Index dropped 27.66 points to 16,836.21, the Industrial Products and Services Index eased 0.36 of-a-point to 160.25 and the Plantation Index slipped 20.10 points to 6,868.35.

Main Market volume decreased to 1.05 billion shares valued at RM1.45 billion from 1.53 billion shares worth RM1.89 billion on Tuesday.

Warrants turnover slipped to 443.93 million units valued at RM97.72 million from 451.36 million units worth RM94.19 million.

Volume on the ACE Market reduced to 260.60 million shares valued at RM54.77 million from 260.95 million shares worth RM43.87 million.

Consumer products and services accounted for 186.20 million shares traded on the Main Market, industrial products and services (191.86 million), construction (118.33 million), technology (71.19 million), SPAC (nil), financial services (34.16 million), property (106.61 million), plantation (21.21 million), REITs (17.24 million), closed/fund (60,600), energy (172.61 million), healthcare (24.25 million), telecommunications and media (44.88 million), transportation and logistics (38.85 billion), and utilities (22.13 million). — Bernama