KUALA LUMPUR, Feb 28 ― Bursa Malaysia continues to decline at mid afternoon today as all indices remained in the red territory amidst the ongoing political turmoil in the country, dragging all counters lower due to heavy selling activities.
As a 3.05pm, the benchmark FBM Bursa Malaysia KLCI (FBM KLCI) fell 1.65 per cent or 24.96 points to 1,480.63, after opening at 20.69 points lower at 1,484.90 points at 9am.
On the broader market, losers were on fire as they trounced gainers 1,111 to 72 with 157 counters unchanged, 703 untraded and 65 suspended.
Turnover spiked to 3.50 billion shares worth RM2.26 billion from 346.67 million shares worth RM161.85 million at the opening today.
Constant outflow was seen across board with construction index declining 5.78 per cent, energy index shed 5.72 per cent and the FBM Ace was down 5.54 per cent; which is the most among other indices.
Energy and construction sectors were the worst-hit as the fate of ongoing, newly announced as well as revived infrastructure projects hang in the balance due to the ongoing political crisis.
Gamuda was the top loser among construction stocks, declining 30 sen to RM3.31 with 12.66 million shares traded, while Dayang Enterprise was the top loser for the energy sector after it slid 26 sen to RM2.31 with 10.10 million shares changing hands.
The Conference of Rulers meets today with issues related to the country’s current political impasse expected to dominate their discussions.
On index-linked stocks, 28 out of 30 component stocks recorded declines, with Maybank shedding nine sen to RM8.43, Tenaga Nasional fell 26 sen to RM12.24, MISC slipped 18 sen to RM7.58, Petronas Chemicals dipped 32 sen to RM5.48, PPB lost 32 sen to RM17.98 and Maxis shed 11 sen to RM5.40.
On the index board, the FBM Emas Index dropped 228.04 points to 10,456.63, the FBMT 100 Index decreased 209.47 points to 10,79.73 and the FBM ACE sank 309.39 points to 5,275.73.
The FBM Emas Shariah Index slipped 267.49 points to 11,087.29 and the FBM 70 declined 410.80 points to 12,818.11.
Sector-wise, the Industrial Products and Services Index eased 5.68 points at 132.95, while the Financial Services Index slid 192.47 points to 14,301.20 while the Plantation Index dipped 140.50 points to 6,815.96. ― Bernama
