KUALA LUMPUR, Dec 2 — Persistent profit taking and selling activities mainly in blue-chips caused a reversal of yesterday’s big gains and dragged Bursa Malaysia to finish lower.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) swung between mild gains and losses during the day before ending 3.54 points down at 1,598.72 compared to yesterday’s close of 1,602.26.
The index opened 2.23 points higher at 1,604.49 and moved between 1,592.93 and 1,605.60.
On the broader market, gainers outpaced losers 640 to 557 while 503 counters were unchanged, 409 untraded and 16 others suspended.
Volume increased to 9.22 billion units worth RM5.43 billion from 9.19 billion units worth RM5.35 billion yesterday.
Top Glove contributed much of the losses on Bursa Malaysia following news of possible charges against it. It was among the companies facing charges for violating the Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 466).
In addition, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said some investors booked profits on the US stocks’ stellar run to record highs.
Overnight, US stocks rose as the Dow gained 0.6 per cent while S&P500 added 1.1 per cent and Nasdaq rose 1.3 per cent to hit fresh records, ignited by economic recovery hopes following Pfizer and BioNTech’s application for regulatory approval for their Covid-19 vaccine in the European Union.
“Hopes for additional US economic stimulus and a coronavirus vaccine kept market sentiment well supported,” he told Bernama.
Other Asian markets also retraced early gains with Singapore’s Straits Times Index losing 0.23 per cent to 2,807.68, Hong Kong’s Hang Seng Index going down 0.13 per cent to 26,532.58 and Shanghai’s SSE Composite Index dropping 0.07 per cent to 3,449.38.
In addition, markets are also cautious ahead of the decision by the Organisation of the Petroleum Exporting Countries (Opec) and its allies on their output policy, scheduled to be announced tomorrow.
Among the heavyweights, Top Glove lost 11 sen to RM6.68, Axiata fell eight sen to RM3.70, Dialog decreased nine sen to RM3.61, and Sime Darby Plantation was five sen easier at RM5.03.
As for the banking counters, Maybank gained eight sen to RM8.27, Hong Leong Bank was 22 sen higher at RM18.12 and CIMB gained four sen to RM3.79. Petronas Dagangan increased 52 sen to RM21.20.
Among the actives, Bioalpha dropped 4.5 sen to 31 sen, AT Systematization inched down 1.5 sen to 19.5 sen and Lambo rose half-a-sen to four sen.
On the index board, the FBM Emas Index shed 8.11 points to 11,561.52, the FBMT 100 Index eased 14.68 points to 11,318.10 and the FBM Emas Shariah Index dropped 41.87 points to 13,330.26.
The FBM 70 improved 21.20 points to 14,969.74 and the FBM ACE slashed 198.79 points to 10,573.12.
Meanwhile, the Industrial Products and Services Index added 1.23 points to 168.35, the Plantation Index was 11.16 points lower at 7,339.12 and the Financial Services Index expanded 87.30 points to 14,295.58.
The Main Market volume decreased to 5.17 billion shares worth RM4.36 billion from 5.48 billion shares worth RM4.19 billion on Tuesday.
Warrants turnover, however, grew to 715.58 million units worth RM135.41 million from 634.31 million units worth RM128.23 million
Volume on the ACE Market increased to 3.34 billion shares worth RM935.06 million from 3.07 billion shares worth RM1.02 billion previously.
Consumer products and services accounted for 861.6 million shares traded on the Main Market, industrial products and services (1.68 billion), construction (342.32 million), technology (352.33 million), SPAC (nil), financial services (99.86 million), property (540.67 million), plantations (148.24 million), REITs (13.35 million), closed/fund (56,000), energy (563.96 million), healthcare (116 million), telecommunications and media (55.33 million), transportation and logistics (283.96 million), and utilities (113.06 million). — Bernama
