Bursa Malaysia ends easier

Bursa Malaysia continued to trend sideways at the close today on persistent selling in index-linked counters and blue-chip stocks. — Picture by Hari Anggara
Bursa Malaysia continued to trend sideways at the close today on persistent selling in index-linked counters and blue-chip stocks. — Picture by Hari Anggara

KUALA LUMPUR, Sept 19 — Bursa Malaysia continued to trend sideways at the close today on persistent selling in index-linked counters and blue-chip stocks, said a dealer.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.21 points easier at 1,596.28 against yesterday’s close of 1,599.49, moving between 1,592.65 and 1,599.17 throughout the day.

The index opened 0.84 of-a-point easier at 1,598.65.

Overall, market breadth was negative with losers outnumbered gainers 464 to 362, while 399 counters were unchanged, 754 untraded and 15 others suspended.

Turnover rose to 2.28 billion units worth RM1.50 billion from yesterday’s close of 1.98 billion units worth RM1.60 billion.

An analyst said the market was volatile throughout the day, moving below the 1,600 level amid mixed performance from regional bourses as US-China trade negotiations resume today and tomorrow in Washington after two months.

“On the US Federal Reserve’s (Fed) second interest rate cut for the second time this year, it failed to lift sentiment in the local stock market while the ringgit weakened against the greenback as investors had been expecting it.

“Projections show Fed officials are divided on the path for rates but do not expect additional cuts this year or next, upsetting a market that had been looking for further easing,” he told Bernama.

Among heavyweights, Maybank erased six sen to RM8.64, Public Bank was flat at RM20.16, TNB gained two sen to RM13.62 and Petronas Chemicals rose one sen to RM7.70.

The FBM Emas Index declined 22.88 points to 11,276.59, the FBMT 100 Index dropped 24.31 points to 11,109.44 and the FBM Emas Shariah Index went down 29.53 points to 11,832.17.

The FBM 70 sank 38.75 points to 13,963.43 and the FBM Ace dipped 5.49 points to 4,525.54.

Sector-wise, the Financial Services Index eased 26.96 points to 15,423.09, the Plantation Index weakened by 38.97 points to 6,786.12, and the Industrial Products & Services Index was 0.21 point lower at 154.37.

Main Market volume inched up to 1.39 billion shares worth RM1.33 billion from 1.18 billion shares worth RM1.43 billion yesterday.

Warrants turnover perked to 392.37 million units worth RM84.06 million from 334.11 million units worth RM72.68 million.

Volume on the ACE Market rose to 504.37 million shares worth RM83.42 million from 469.55 million shares worth RM94.49 million previously.

Consumer products and services accounted for 154.17 million shares traded on the Main Market, industrial products and services (178.53 million), construction (54.72 million), technology (122.30 million), SPAC (nil), financial services (31.55 million), property (81.61 million), plantations (13.45 million), REITs (14.27 million), closed/fund (22,000), energy (564.79 million), healthcare (15.37 million), telecommunications and media (117.56 million), transportation and logistics (21.99 million), and utilities (16.62 million). — Bernama

Related Articles