KUALA LUMPUR, Sept 24 — Bursa Malaysia pared down losses at the close today, but market sentiment remained weak due to lack of positive catalysts in the market.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.6 of-a-point to 1,592.33.
The index opened 0.57 of-a-point higher at 1,593.50 from yesterday’s close of 1,593.5 and moved between 1,585.58 and 1,593.5 throughout the day.
Overall, market breadth was negative as losers outmuscled gainers 425 to 349, with 427 counters unchanged, 784 untraded and 23 others suspended.
Turnover fell to 1.96 billion units worth RM1.57 billion from 2.03 billion units worth RM1.39 billion yesterday.
Market sentiment was affected mainly due to weak economic data readings from the eurozone and renewed concerns of slowing global growth.
FXTM market analyst Han Tan said the world’s economic growth momentum had stuttered amid heightened global trade tensions, prompting investors to keep safe-haven assets at elevated levels.
“Any sudden spike in geopolitical or trade tensions, along with a rapid deterioration in the global economy’s projected path forward, is expected to return safe-haven assets to 2019 highs,” he said in a note today.
Regionally, Singapore’s Straits Times Index increased 0.49 per cent to 3,159.35, Hong Kong’s Hang Seng Index rose 0.22 per cent to 26,281.0, Japan’s Nikkei 225 gained 0.09 per cent to 22,098.84 while Indonesia’s Jakarta Composite Index weakened by 1.11 per cent to 6,137.61.
Among heavyweights, IHH Healthcare added one sen to RM5.70, Maxis improved four sen to RM5.59, Axiata went up three sen to RM4.32 while TNB and CIMB were flat at RM13.64 and RM5.04, respectively.
Maybank weakened by seven sen to RM8.65, Public Bank declined four sen to RM20.10, Petronas Chemicals was eight sen easier at RM7.46 and Digi fell three sen to RM4.69.
As for the actives, Sapura Energy edged up half-a-sen to 29 sen, Velesto Energy improved 1.5 sen to 32.5 sen, Eduspec and Bumi Armada were one sen easier at 4.5 sn and 33 sen, respectively.
The FBM Emas Index inched down 0.09 of-a-point to 11,252.33, the FBMT 100 Index gave up 1.31 point to 11,084.52 but the FBM Emas Shariah Index expanded by 19.56 points to 11,793.37.
The FBM 70 improved by 10.14 points to 13,942.69 and the FBM Ace shed 12.39 points to 4,559.89.
Sector-wise, the Plantation Index went up 45.83 points to 6,768.28, the Financial Services Index slipped 44.41 points to 15,409.0, and the Industrial Products & Services Index was 0.31 of-a-point lower at 152.94.
Main Market volume increased to 1.17 billion shares worth RM1.45 billion compared with 1.22 billion shares worth RM1.23 billion yesterday.
Warrants turnover, however, slipped to 307.19 million units worth RM59.05 million from 425.01 million units valued at RM96.69 million yesterday.
Volume on the ACE Market went up to 501.55 million shares worth RM62.79 million from 384.91 million shares worth RM53.88 million.
Consumer products and services accounted for 133.54 million shares traded on the Main Market, industrial products and services (182.73 million), construction (79.42 million), technology (72.74 million), SPAC (nil), financial services (44.18 million), property (101.54 million), plantations (13.48 million), REITs (26.37 million), closed/fund (5,100), energy (321.64 million), healthcare (17.02 million), telecommunications and media (122.09 million), transportation and logistics (32.61 million), and utilities (19.29 million). — Bernama
