KUALA LUMPUR, Jan 24 — Bursa Malaysia ended the half-day trading lower due to weak market sentiment caused by the coronavirus outbreak as well as profit-taking activities ahead of the long weekend.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.63 points to 1,572.81 from yesterday’s close of 1,574.44.
After opening 0.84 point weaker at 1,573.60, the FBM KLCI moved between 1,568.64 and 1,575.21 throughout the day.
Overall market breadth on Bursa Malaysia was negative with losers outpacing gainers 378 to 336, while 383 counters remained unchanged, 875 were untraded and 24 others were suspended.
Turnover decreased to 1.58 billion shares worth RM1.26 billion from 2.30 billion shares worth RM1.74 billion at yesterday’s closing.
In a note, Malacca Securities Sdn Bhd said the outbreak triggered volatility on the global equities market as investors became concerned over the economic impact on the second largest economy, China.
Furthermore, it said investors were also taking the aforementioned event as an excuse to lock in their gains ahead of the extended weekend break in major Asian countries.
“The lack of leads, coupled with a shortened trading session ahead of the Lunar New Year, is likely to see stocks on Bursa Malaysia on a drifting mode.
“Under the prevailing environment, the FBM KLCI is expected to remain at the 1,560 level, which is now serving as the immediate support, followed by the 1,550 level. Any bargain hunting activities may keep gains in check with the immediate hurdle at the 1,585 level,” it added.
Among the heavyweights on Bursa Malaysia, Maybank added two sen to RM8.53, Public Bank gained four sen to RM19.18, Tenaga was six sen higher at RM12.88 and Petronas Chemicals decreased one sen to RM6.92.
Of the actives, Impiana Hotels was flat at 2.5 sen, DGB Asia inched up half-a-sen to 13.5 sen and Supermax was nine sen higher at RM1.61.
On the scoreboard, the FBM Emas Index was 10.16 points lower at 11,246.66, the FBM Emas Shariah Index lost 15.17 points to 11,968.14 and the FBMT 100 Index declined 10.14 points to 11,032.33.
The FBM 70 dropped 7.85 points to 14,222.23 and the FBM ACE increased 56.04 points to 5,680.40.
Sector-wise, the Industrial Products and Services Index inched down 0.53 point to 151.95, the Financial Services Index added 4.26 points to 15,103.07 and the Plantation Index lost 29.02 points to 7,424.75.
Main Market volume decreased to 945.59 million shares worth RM1.13 billion from 1.14 billion shares worth RM1.48 billion yesterday.
Warrants turnover fell to 307.88 million units worth RM48.22 million from 358.55 million units worth RM64.50.
Volume on the ACE Market was lower at 334.04 million shares worth RM89.33 million from 802.18 million shares worth RM193.99 million.
Consumer products and services accounted for 229.12 million shares traded on the Main Market, industrial products and services (120.13 million), construction (54.28 million), technology (94.89 million), SPAC (nil), financial services (28.16 million), property (62.98 million), plantations (26.79 million), REITs (5.6 million), closed/fund (4,500), energy (184.69 million), healthcare (81.90 million), telecommunications and media (9.5 million), transportation and logistics (29.79 million) and utilities (17.58 million).
Bursa Malaysia and its derivatives will only be trading half-day and be closed at 12.30pm today on the eve of the Chinese New Year holiday.
It will resume trading on Tuesday, January 28. — Bernama