KUALA LUMPUR, Aug 14 — Bursa Malaysia ended the week lower today on continued selling pressure across the board as investors digested Malaysia’s second quarter gross domestic product (GDP) data which contracted 17.1 per cent.
The GDP was the worst double-digit quarterly decline since 1998 due to the unprecedented lockdown that was imposed to stem the spread of Covid-19 that brought the economy to almost a standstill, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 11.83 points or 0.75 per cent lower at 1,564.59 from yesterday’s close of 1,576.42.
The key index opened 2.37 points better at 1,578.79 and moved between 1,561.18 and 1,579.63 throughout the day.
Volume declined to 10.46 billion shares worth RM5.15 billion from yesterday’s 11.67 billion shares worth RM4.97 billion.
Market breadth was negative, with losers thumping gainers 981 to 213, while 290 counters were unchanged, 512 untraded and 33 others suspended.
Regionally, a dealer said Asian markets were mixed, tracking the weaker overnight performance on Wall Street amid lacklustre China’s economic data and concerns over the delay in US fiscal stimulus, which had hindered investors from taking on risk.
China’s Shanghai Stock Exchange increased 1.19 per cent to 3,360.10, Singapore’s Straits Times Index shed 0.58 per cent to 2,580.89, Japan’s Nikkei 225 gained 0.17 per cent to 23,289.36, while Hong Kong’s Hang Seng Index eased 0.19 per cent to 25,183.01.
OANDA senior market analyst, Asia Pacific Jeffrey Halley said the directionless US session overnight appeared to be spilling into Asia today.
“Pre-weekend lethargy seems to be the theme with China’s slew of tier-1 data releases this morning unable to lift the malaise with the country’s Industrial Production and Retail sales both underperformed.
“It appears that US Industrial Production and Retails Sales due this evening, and the hope of developments on stimulus talks from Capitol Hill, are taking precedence over local data,” he said.
On the local front, a dealer said the market opened higher but retreated thereafter to stay in the red throughout the morning session, with selling activities seen across the board.
Trading volume remained high as investors took profits after yesterday’s upbeat performance, she added.
Of the heavyweights, Top Glove fell RM1.18 to RM23.82, Tenaga slid four sen to RM11.12 and Hartalega declined 54 sen to RM16.02.
Maybank and Public Bank were flat at RM7.80 and RM17.80, respectively.
Among the most actives, XOX, Sapura Energy and AT Systematization shed 1.5 sen each to 24 sen, 11.5 sen and nine sen, respectively, Borneo Oil edged up half-a-sen to seven sen while Priceworth was flat at four sen.
On the index board, the FBM Emas Index decreased 125.12 points to 11,144.53, the FBM Emas Shariah Index was 178.73 points lower at 12,915.18 and the FBMT 100 Index slipped 115.26 points to 10,976.26.
The FBM 70 dropped 275.70 points to 14,125.85 and the FBM ACE tumbled 489.41 points to 9,609.59.
Sector-wise, the Financial Services Index down 82.55 points to 13,306.01, the Plantation Index shed 18.55 points to 7,005.74 and the Industrial Products and Services Index eased 1.55 points to 138.13.
Main Market volume fell to 5.76 billion shares worth RM3.89 billion compared with 7.54 billion shares valued at RM3.82 billion yesterday.
Warrants turnover widened to 524.13 million units worth RM180.43 million from 506.29 million units valued at RM150.86 million yesterday.
Volume on the ACE Market rose to 4.17 billion shares worth RM1.07 billion versus yesterday’s 3.62 billion shares valued at RM997.46 million.
Consumer products and services accounted for 789.28 million shares traded on the Main Market, industrial products and services (1.68 billion), construction (187.93 million), technology (557.67 million), SPAC (nil), financial services (61.53 million), property (936.66 million), plantations (57.98 million), REITs (10.95 million), closed/fund (2,000), energy (1.06 billion), healthcare (124.32 million), telecommunications and media (118.21 million), transportation and logistics (144.96 million), and utilities (29.66 million). — Bernama