Bursa Malaysia ends broadly lower on profit-taking

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 8.10 points or 0.52 per cent lower at 1,556.64 from yesterday’s close of 1,564.74. — Bernama pic
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 8.10 points or 0.52 per cent lower at 1,556.64 from yesterday’s close of 1,564.74. — Bernama pic

KUALA LUMPUR, Aug 11 — Bursa Malaysia extended yesterday’s losses to end broadly lower today on profit-taking, with selling pressure in glove-maker stocks continued to weigh on the barometer index.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 8.10 points or 0.52 per cent lower at 1,556.64 from yesterday’s close of 1,564.74.

The key index opened 5.92 points lower at 1,558.82 and moved between 1,539.61 and 1,564.38 throughout the day.

Volume declined to 19.16 billion shares worth RM7.98 billion from Tuesday’s 27.80 billion shares worth RM7.80 billion.

Market breadth was negative with losers thumping gainers 907 to 315, while 295 counters were unchanged, 469 untraded and 22 others suspended.

Regionally, China’s Shanghai Stock Exchange slipped 0.63 per cent to 3,319.27, while Japan’s Nikkei Index rose 0.41 per cent to 22,843.96, Hong Kong’s Hang Seng Index surged 1.42 per cent to 25,244.02 and Singapore’s Straits Times Index gained 0.62 per cent to 2,559.90.

On the local front, a dealer said the market was traded lower throughout the trading session with trading volume remained high on profit-taking by retail investors, as the rotational play among the lower liners kept trading activities at an elevated level.

Meanwhile, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said on a sectoral basis, the Bursa Healthcare Index was the biggest laggard with a 6.11 per cent loss, while the Bursa Financial Services Index led gainers with a 1.40 per cent jump.

“Overall Asian markets’ sentiment were mixed as anticipation of a developed vaccine was overshadowed by concerns over whether US lawmakers would strike an agreement on an additional round of big fiscal stimulus to support the nation’s economy that is still struggling with the pandemic, as well as optimism about the upcoming US-China trade talks,” he told Bernama.

Of the heavyweights, Maybank gained 16 sen to RM7.65, Public Bank rose 48 sen to RM17.40  and Tenaga advanced 14 sen at  RM11.14.

Top Glove dropped RM2.80 to RM24.50 and Hartalega slipped RM2.18 to RM16.12.

Among the most actives, Sapura Energy slid one sen to 13.5 sen, Borneo Oil and Lambo eased half-a-sen to seven sen and six sen, respectively, while NetX and Pegasus were flat at two sen and four sen, respectively.

On the index board, the FBM Emas Index decreased 118.70 points to 11,147.86, the FBM Emas Shariah Index was 331.66 points lower at 12,982.79 and the FBMT 100 Index contracted 107.43 points to 10,969.84.

The FBM 70 dropped 337.98 points to 14,312.22 and the FBM ACE tumbled 641.69 points to 9,998.49.

Sector-wise, the Plantation Index declined 8.47 points to 6,971.07, the Industrial Products and Services Index eased 1.77 points to 137.54, while the Financial Services Index rose 252.78 points to 13,195.29.

Main Market volume fell to 10.72 billion shares worth RM5.93 billion compared with 16.76 billion shares valued at RM5.68 billion yesterday.

Warrants turnover widened to 949.97 million units worth RM305.06 million from 604.25 million units valued at RM214.24 million yesterday.

Volume on the ACE Market reduced to 7.48 billion shares worth RM1.75 billion versus yesterday’s 10.43 billion shares valued at RM1.90 billion.

Consumer products and services accounted for 1.94 billion shares traded on the Main Market, industrial products and services (2.33 billion), construction (282.09 million), technology (851.01 million), SPAC (nil), financial services (69.54 million), property (1.22 billion), plantations (53.56 million), REITs (8.15 million), closed/fund (48,900), energy (3.28 billion), healthcare (206.43 million), telecommunications and media (75.37 million), transportation and logistics (361.76 million), and utilities (39.07 million). — Bernama

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