KUALA LUMPUR, Sept 25 — Bursa Malaysia ended the day lower following the lack of fresh positive catalysts, coupled with weak global economic data and continuous trade tension which dampened investors’ risk appetite.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 2.75 points to 1,589.58.
The index opened 0.19 of-a-point higher at 1,592.52 from yesterday’s close of 1,592.33 and moved between 1,586.14 and 1,593.99 throughout the day.
Overall, market breadth was negative as losers surpassed gainers 528 to 278, with 379 counters unchanged, 820 untraded and 23 others suspended.
Turnover increased to 2.19 billion units worth RM1.62 billion compared with 1.96 billion units worth RM1.57 billion yesterday.
The index decline was also in line with regional indices as the Dow Jones Industrial Average was down 0.53 per cent to 26,807.77, Hong Kong Hang Seng skidded 1.28 per cent to 25,945.35, Japan Nikkei slid 0.36 per cent to 22,020.15, Singapore Straits Times eased 1.10 per cent to 3,120.76 while South Korean KOPSI was 1.32 per cent lower at 2,073.39.
Phillip Capital Management senior vice-president (Investment) Datuk Dr Nazri Khan Adam Khan said on the technical front, the bullish bias has yet to make its presence in the FBM KLCI, as the index dipped below the 1,600 point mark.
“Despite the contraction, we still believe that the local bourse is recovering, given that there has been no significant drop below the aforementioned mark at the moment.
“Judging from the technical perspective, the bullish bias we saw in the appearance of multiple positive signals has not been fully negated yet,” he told Bernama.
He added that minus the external factors, positive local data such as lower property overhang and the stable retail and office occupancy rate in the first half of this year should be able to lift the market slightly.
“This indicates a growing economy. Coupled with the successful 5G trials in Putrajaya and Cyberjaya with plans to go nationwide next month, it will provide a push in the local market for now,” he said.
At the close, banking heavyweights led losses as Maybank slipped three sen to RM8.62, Public Bank dropped six sen to RM20.04, Hong Leong Bank declined 10 sen to RM16.26 and RHB eased five sen to RM5.57.
As for the actives, debutant MTAG slipped nine sen to 44 sen from its debut price of 70 sen this morning, VSolar and Sapura Energy declined half-a-sen to 8 sen and 28.5 sen, respectively, while KNM eased one sen to 38.5 sen.
The FBM Emas Index inched down 12.52 points to 11,239.81, the FBMT 100 Index gave up 9.52 points to 11,075.00 and the FBM Emas Shariah Index contracted by 6.57 points to 11,786.80.
The FBM 70 improved by 27.80 points to 13,970.49 and the FBM Ace shed 20.69 points to 4,539.20.
Sector-wise, the Plantation Index slid 17.32 points to 6,750.96, the Financial Services Index slipped 47.59 points to 15,361.41 while the Industrial Products and Services Index was 0.38 of-a-point higher at 152.94.
Main Market volume increased to 1.18 billion units worth RM1.33 billion from 1.17 billion shares worth RM1.45 billion yesterday.
Warrants turnover also rose to 338.19 million units worth RM70.20 million from yesterday’s 307.19 million units worth RM59.05 million.
Volume on the ACE Market advanced to 665.83 million shares worth RM218.77 million from 501.55 million shares worth RM62.79 million previously.
Consumer products and services accounted for 160.91 million shares traded on the Main Market, industrial products and services (166.66 million), construction (85.48 million), technology (73.83 million), SPAC (nil), financial services (30.86 million), property (106.62 million), plantations (12.50 million), REITs (23.45 million), closed/fund (166,000), energy (346.78 million), healthcare (14.92 million), telecommunications and media (107.31 million), transportation and logistics (37.02 million) and utilities (22.76 million). — Bernama
