KUALA LUMPUR, July 26 — Shares on Bursa Malaysia closed lower today, as the European Central Bank (ECB) put off an anticipated rate cut, a dealer said.
He said with the ECB meeting adjourned, investors would turn their focus to the US Federal Reserve’s decision on interest rates next week, which may help provide some fresh leads to the market.
The Federal Open Market Committee two-day meeting is scheduled to begin on July 30.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 8.62 points or 0.52 per cent to the day’s low of 1,647.96 versus 1,656.58 recorded yesterday.
The index opened 2.84 points lower at 1,653.74 and moved between 1,647.96 and 1,653.74 during the day.
Market breadth was negative with losers outnumbering gainers 513 to 367, while 386 counters were unchanged, 662 untraded and 25 others suspended.
Turnover fell to 2.56 billion units worth RM2.05 billion from yesterday’s close of 2.76 billion units worth RM2 billion.
“The market was also cautious ahead of the US-China trade talks resumption, with American trade negotiators soon leaving for Shanghai to try bridging differences, namely over trade and technology and geopolitical issues,” the dealer said.
The US officials are likely to travel to China for the discussions sometime between July 26 and August 1.
Among the heavyweight losers on Bursa, Public Bank slid 26 sen to RM22.42, Sime Darby Plantation declined 10 sen to RM4.72, Maxis eased seven sen to RM5.63, while MISC was 11 sen weaker at RM7.24.
As for the actives, KNM added 1.5 sen to 43 sen, Netx was flat at 1.5 sen and Only World bagged seven sen to 23.5 sen.
The FBM Emas Index declined 64.90 points to 11,698.42, the FBMT 100 Index dropped 66.24 points to 11,519.66 and the FBM Emas Shariah Index lost 77.55 points to 12,060.49.
The FBM 70 depreciated 108.75 points to 14,687.88, the FBM Ace was down 2.34 points to 4,764.77.
Sector-wise, the Financial Services Index contracted 113.74 points to 16,317.95, the Industrial Products and Services Index slipped 0.42 point to 155.79 and the Plantation Index was 67.97 points weaker at 6,778.63.
Main Market volume declined to 1.58 billion shares worth RM1.85 billion versus 1.92 billion shares worth RM1.86 billion recorded yesterday.
Warrants turnover increased to 600.58 million units worth RM134.35 million from 378.21 million units valued at RM72.39 million.
Volume on the ACE Market eased to 372 million shares worth RM68.54 million against 459.72 million shares worth RM71.68 million.
Consumer products and services accounted for 414.56 million shares traded on the Main Market, industrial products and services (185.70 million), construction (106.21 million), technology (114.63 million), SPAC (nil), financial services (35.29 million), property (69.66 million), plantation (22.33 million), REITs (8 million), closed/fund (1,100), energy (407.62 million), healthcare (13.84 million), telecommunications and media (162.87 million), transportation and logistics (30.19 million) and utilities (14.05 million). — Bernama
