KUALA LUMPUR, Aug 11 — Bursa Malaysia ended lower today on profit taking in selected heavyweights despite hitting a new record high volume.
The market was also tracking the mixed performance of its regional peers, following the de-escalation of trade talk risk and on the hope that the United States government would offer a heftier stimulus package, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 6.92 points or 0.44 per cent lower at 1,564.74 from yesterday’s close of 1,571.66.
The key index opened 8.51 points higher at 1,580.17 and moved between 1,564.74 and 1,581.93 throughout the day.
Volume soared to a new high of 27.80 billion shares worth RM7.80 billion from yesterday’s 19.76 billion shares worth RM7.55 billion.
Market breadth was negative, with losers outpacing gainers 722 to 552, while 336 counters were unchanged, 437 untraded and 21 others suspended.
Regionally, China’s Shanghai Stock Exchange slipped 1.15 per cent to 3,340.29; Japan’s Nikkei Index rose 1.88 per cent to 22,750.24; Hong Kong’s Hang Seng Index surged 2.11 per cent to 24,890.68; and Singapore’s Straits Times Index fell by 0.11 per cent to 2,542.60.
A dealer said the local market was trading on a positive note throughout the whole morning session, supported by buying in the healthcare sector, particularly glove maker stocks, but the emergence of profit taking at mid-afternoon dragged the market downwards.
Maybank Investment Bank senior chartist Nik Ihsan Raja Abdullah noted that the dwindling oil supply and improving demand which had lifted the Brent crude oil price above US$45 (RM199) per barrel today had sparked an “oil rally” in Bursa Malaysia today.
The Kuala Lumpur Energy Index rose 94.18 points or 12.27 per cent to 861.51 points, fuelled by the sharp interest in oil and gas-related stocks, with the exception of Dialog and Sino Hua-an.
“All counters in the energy index recorded sharp gains, with Sapura Energy surging by 45 per cent followed by Scomi Energy (21.74 per cent) and Alam Maritim (21.05 per cent),” he said to Bernama.
He noted that concerns over underinvestment in term capital expenditure for global oil production have raised fears on supply availability, as demand gradually recovers post-Covid-19.
Among the heavyweights, Maybank slid three sen to RM7.49, Top Glove added 10 sen to RM27.30, Public Bank bagged 12 sen to RM16.92, Hartalega eased six sen to RM18.30 and Tenaga reduced by two sen to RM11.00.
Of the most active, AT Systematization was one sen better at 13 sen, Velesto improved two sen to 16.5 sen, Vortex edged up half-a-sen to 10 sen, Sapura Energy’s warrant gained four sen to 8.5 sen while NetX Holdings was flat at two sen.
Meanwhile, Tomei Consolidated, Nestle and Petronas Gas emerged as the top losers.
Tomei Consolidated fell 46 sen to RM1.09, Nestle declined 40 sen to RM139.20 and Petronas Gas shed 38 sen to RM16.
On the index board, the FBM Emas Index decreased 18.0 points to 11,266.56, the FBM Emas Shariah Index was 38.63 points lower at 13,314.45 and the FBMT 100 Index contracted 18.93 points to 11,077.27.
The FBM 70 advanced 92.67 points to 14,650.20 and the FBM ACE climbed 25.05 points to 10,640.18.
Sector-wise, the Financial Services Index was down 24.94 points to 12,942.51, the Plantation Index declined 61.91 points to 6,979.54 and the Industrial Products and Services Index reduced 1.72 points to 139.31.
Main Market volume surged to 16.76 billion shares worth RM5.68 billion compared with 9.88 billion shares valued at RM5.16 billion on yesterday.
Warrants turnover widened to 604.25 million units worth RM214.24 million from 491.36 million units valued at RM208.53 million yesterday.
Volume on the ACE Market rose to 10.43 billion shares worth RM1.90 billion versus Monday’s 9.39 billion shares valued at RM2.18 billion.
Consumer products and services accounted for 1.20 billion shares traded on the Main Market, industrial products and services (2.27 billion), construction (377.25 million), technology (1.13 billion), SPAC (nil), financial services (50.98 million), property (1.45 billion), plantations (71.75 million), REITs (7.59 million), closed/fund (5,000), energy (9.56 billion), healthcare (101.50 million), telecommunications and media (166.53 million), transportation and logistics (349.96 million), and utilities (35.73 million). — Bernama
