KUALA LUMPUR, Aug 19 — Bursa Malaysia wrapped up the day mixed after a range-bound trading day, as investors awaited further market direction amid global uncertainty.
The benchmark FTSE Bursa Malaysia (FBM KLCI) ended 2.77 points lower at 1,596.45, after trading between 1,594.84 and 1,602.03 throughout the day.
The index opened 3.71 points easier at 1,595.51 after closing at 1,599.22 last Friday.
On the broader market, sentiment remained strong as gainers outpaced losers 429 to 349, while 401 counters remained unchanged, 751 untraded and 15 others suspended.
Turnover was higher at 2.21 billion units worth RM1.59 billion compared with 1.78 billion units worth RM1.44 billion last Friday.
VM Markets Pte Ltd managing partner Stephen Innes said last week’s domino effect from China and the Eurozone economic woes triggered the US curve inversion, tripping panic among investors as the warning bells of recessions rang out.
“With global economic engines still clattering, and in desperate need of some high-grade central bank stimulus, investors are still pinning their hopes on the central bank policy,” he told Bernama.
Innes said after a number of surprise rate cuts by various central banks over the past couple of weeks due to slower economic growth and global trade tensions, investors will certainly be hanging on the US Federal Reserve decision on further rate cuts on Sept 18.
Meanwhile, MIDF Research expects the FBM KLCI to trade with confidence and reiterates the year-end target at 1,720 points, and in the first half, RM5 billion of total net inflows were recorded with major beneficiaries coming from utilities, healthcare and oil and gas related stocks.
“Average daily traded is still at a healthy level of slightly above RM2.03 billion worth of shares a day despite the year-to-date net foreign outflows.
“The FBM small capital index and FBM 70 Index has substantially outperformed the FBM KLCI Index on a year-to-date basis, recording gains of 15.8 per cent and 8.1 per cent, respectively,” it said.
As for the performance of heavyweights, Digi and Dialog both shed five sen to RM4.97 and RM3.48, respectively, Kuala Lumpur Kepong lost 24 sen to RM23.78, IHH was flat at RM5.69, while Press Metal gained one sen to RM4.80.
For the most active stocks, Sumatec reduced one sen to 2.5 sen, Sapura Energy was flat at 27 sen, Vsolar was half-a-sen higher at 15 sen, Naim jumped 18.5 sen to RM1.16, while KNM and NETX were both down half-a-sen each to 37.5 sen and 1.5 sen, respectively.
The FBM Emas Shariah Index depreciated 2.89 points to 11,840.32, the FBM Emas Index was 0.22 of-a-point lower at 11,307.89, the FBMT 100 Index dropped 2.75 points to 11,142.90, while the FBM Ace added 30.74 points to 4,618.46 and the FBM 70 was 64.74 points higher at 14,138.86.
Sector-wise, the Financial Services Index strengthened 10.99 points to 15,535.50, the Industrial Products and Services Index was marginally higher by 0.84 points at 150.56, and the Plantation Index contracted 10.77 points to 6,747.60.
Main Market volume rose to 1.43 billion worth RM1.44 billion compared with last Friday’s 1.13 billion units worth RM1.30 billion.
Warrants turnover fell to 3.62 million units worth RM75.79 million from 404.74 million units worth RM95.41 million.
Volume on the ACE Market, meanwhile, rose to 410.17 million worth RM77.03 million from 250.02 million units worth RM387.33 million last Friday.
Consumer products and services accounted for 249.38 million shares traded on the Main Market, industrial products and services (157.91 million), construction (83.04 million), technology (125.82 million), SPAC (nil), financial services (33.07 million), property (140.77 million), plantations (10.12 million), REITs (6.91 million), closed/fund (54,000), energy (503.78 million), healthcare (14.15 million), telecommunications and media (63.98 million), transportation and logistics (39.32 million), and utilities (10.41 million). — Bernama