KUALA LUMPUR, Jan 30 — Bursa Malaysia closed lower today on weak market sentiment as concerns on the economic impact of the 2019 novel Coronavirus, which originated from Wuhan, continued to weigh on investors.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.88 points to 1,545.59 from yesterday’s close of 1,550.47.
After opening 0.78 point better at 1,551.25, the benchmark index moved between 1,540.71 and 1,551.25 throughout the day.
On the broader market, losers outpaced gainers 646 to 253, with 368 counters unchanged, 724 untraded and 76 others suspended.
Turnover increased to 2.80 billion shares worth RM2.31 billion from 2.69 billion shares worth RM2.55 billion yesterday.
In a note, Malacca Securities Sdn Bhd said investors remained cautious on the economic impact from the Coronavirus outbreak.
“With the lack of fresh leads, we reckon that the key index will continue to trade in a downward bias momentum with the key index already re-testing the 1,550 key support level.
“A fall beyond the aforementioned level will see the key index tumbling to a fresh four-year low towards the 1,535 level or even the 1,500 psychological level. Any recovery is expected to be insignificant with gains limited towards the 1,575 for the time being,” it added.
The decline on the FBM KLCI was also in line with movements in regional stocks, with Hong Kong’s Hang Seng Index down 2.62 per cent to 26,449.13, while Singapore’s Straits Times Index fell by 0.43 per cent to 3,168.96 and the Jakarta Composite Index eased by 0.91 per cent to 6,057.60.
Among the heavyweights on Bursa Malaysia, Maybank gained four sen to RM8.49, Public Bank lost 10 sen to RM18.90, Tenaga was eight sen lower at RM12.48 and Petronas Chemicals decreased 13 sen to RM6.45.
Of the actives, Bumi Armada shed two sen to 39 sen, Impiana Hotel was unchanged at 2.5 sen and RGB International added two sen to 19.5 sen.
On the scoreboard, the FBM Emas Index was 49.65 points lower at 11,029.97, the FBM Emas Shariah Index lost 71.27 points to 11,713.01 and the FBMT 100 Index fell 43.84 points to 10,826.78.
The FBM 70 erased 95.91 points to 13,897.38 and the FBM ACE decreased 14.57 points to 5,621.22
Sector-wise, the Industrial Products and Services Index inched down 1.31 points to 147.22, the Financial Services Index declined 24.26 points to 14,889.89 and the Plantation Index was 57.49 points weaker at 7,156.71.
Main Market volume rose to 1.79 billion shares worth RM2.05 billion from 1.65 billion shares worth RM2.28 billion yesterday.
Warrants turnover increased to 460.52 million units worth RM86.72 million from 410.79 million units worth RM70.40 million.
Volume on the ACE Market reduced to 557.77 million shares worth RM174.48 million from 621.91 million shares worth RM192.94 million.
Consumer products and services accounted for 419.74 million shares traded on the Main Market, industrial products and services (244.46 million), construction (87.97 million), technology (132.02 million), SPAC (nil), financial services (46.81 million), property (103.67 million), plantations (62.49 million), REITs (21.69 million), closed/fund (101,000), energy (444.61 million), healthcare (97.39 million), telecommunications and media (23.74 million), transportation and logistics (71.42 million) and utilities (34.33 million). — Bernama
