KUALA LUMPUR, Nov 25 — Bursa Malaysia closed lower on Monday amid lack of catalysts.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.49 points to finish at 1,591.35 from 1,596.84 at Friday’s close, after moving between 1,588.72 and 1,596.30 throughout the day.
The barometer index, opened 1.76 points weaker at 1,595.08.
Axicorp Asia Pacific market strategist Stephen Innes said foreign investors were cautious on the Malaysian market following significant issues such as the succession of power.
“For foreign investors, they still do not like Malaysian equities and remain uninspired by the shelving of several huge infrastructure deals. The ringgit is very uninspiring these days too.
“However, I still think the succession of power remains one of the most significant issues and keeps investors guarded while talking on safer bets.
“Still, the loosening of the budget purse strings should help sentiment, but I think until we get a positive boost from a definite (US-China) trade deal, sentiment will continue to languish,” he told Bernama.
On the broader market, there were 549 losers and 336 gainers, while 364 counters were unchanged, 780 untraded and 31 others suspended.
Volume was slightly lower at 2.51 billion shares worth RM1.54 billion from 2.56 billion shares worth RM1.99 billion on Friday.
Among heavyweights, RHB Bank jumped eight sen to RM5.78, after recording positive earnings and revenue for the third quarter ended Sept 30, 2019, while Maybank and Hong Leong Bank gained two sen each to RM8.66 and RM16.76, respectively.
MISC was flat at RM8.31 while Maxis fell six sen to RM5.25 and Genting Bhd lost 10 sen to RM5.95.
Of the actives, MYEG increased three sen to RM1.25, Eduspec and Sapura Energy were flat at 2.5 sen and 28.5 sen, respectively, Bumi Armada decreased 1.5 sen to 49 sen and Ekovest went down two sen to 81 sen.
The FBM Emas Index was 38.86 points weaker at 11,289.63, the FBMT 100 Index dipped 34.78 points to 11,103.71, the FBM Ace shaved off 39.52 points to 4,851.58, the FBM Emas Shariah Index fell 45.76 points to 11,824.37, and the FBM 70 decreased 29.57 points to 14,074.04.
Sector-wise, the Plantation Index edged down 0.22 of-a-point to 7,177.78, the Industrial Products & Services Index inched down 0.16 of-a-point at 151.37 and the Financial Services Index contracted 11.20 points to 15,537.99.
Main Market volume slipped to 1.63 billion shares worth RM1.37 billion from 1.84 billion shares worth RM1.84 billion on Friday.
Warrants turnover increased to 370.50 million units worth RM76.36 million versus 274.38 million units worth RM62.68 million previously.
Volume on the ACE Market went up to 517.25 million units worth RM92.42 million from 441.93 million units worth RM95.17 million.
Consumer products and services accounted for 199.13 million shares traded on the Main Market, industrial products and services (241.32 million), construction (234.68 million), technology (126.92 million), SPAC (nil), financial services (39.88 million), property (197.12 million), plantations (101.61 million), REITs (82.85 million), closed/fund (11,100), energy (406.52 million), healthcare (97.53 million), telecommunications and media (29.40 million), transportation and logistics (20.24 million), and utilities (1.51 million). — Bernama
