Weak sentiment drags Bursa Malaysia lower

Bursa Malaysia gave up yesterday’s gains to close broadly lower today as concerns over the rapid spread of the Delta variant of Covid-19 and the latest political development in the country curbed buying appetite. — Bernama pic
Bursa Malaysia gave up yesterday’s gains to close broadly lower today as concerns over the rapid spread of the Delta variant of Covid-19 and the latest political development in the country curbed buying appetite. — Bernama pic

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KUALA LUMPUR, Aug 4 — Bursa Malaysia gave up yesterday’s gains to close broadly lower today as concerns over the rapid spread of the Delta variant of Covid-19 and the latest political development in the country curbed buying appetite.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.93 points to end the day at 1,491.33 compared with Tuesday’s close of 1,500.26.

The market bellwether, which opened 2.98 points weaker at 1,497.28, fluctuated between 1,483.73 and 1,497.88 throughout the session.

It was heavily weighed down by losses in Public Bank, Telekom Malaysia ™, Mr DIY and Dialog with a combined 4.903 points.

The overall market breadth was negative with losers surpassing gainers at 685 versus 333, while 411 counters were unchanged, 763 untraded and nine others suspended.

Turnover decreased to 3.67 billion units worth RM2.53 billion from 4.16 billion units valued at RM2.72 billion yesterday.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI closed 0.6 per cent lower as investors digested the latest political developments in the country while Covid-19 cases reached another record high.

Malaysia today recorded 19,819 new Covid-19 cases — the highest since the pandemic hit the country early last year.

“On further scrutiny, losers on the FBM KLCI index were led by Dialog and TM, which dropped by 4.1 per cent and 3.0 per cent respectively.

“On the sectoral front, the Bursa Malaysia Healthcare Index and Bursa Malaysia Transportation and Logistics Index were laggards dropping as much as 1.2 per cent during the day,” he told Bernama.

In comparison with other regional markets, most Asian peers recorded gains during the day, taking the cue from the strong corporate profits recorded by companies on Wall Street.

Of the heavyweights, Maybank and Public Bank eased four sen each to RM8.01 and RM3.96 respectively, Petronas Chemicals shed five sen to RM8.00, IHH lost six sen to RM5.71 and CIMB trimmed three sen to RM4.51.

Tenaga Nasional, however, rose 10 sen to RM9.83.

Among the actives, Dagang Nexchange shed 3.5 sen to 75.5 sen, Saudee slipped 1.5 sen to nine sen, Advance Synergy was flat at 16.5 sen, Serba Dinamik and BCM Alliance inched up half-a-sen each to 41 sen and 15.5 sen respectively, while Seal Inc bagged 3.5 sen to 42.5 sen.

On the index board, the FBM Emas Index was 68.96 points lower at 10,955.46, FBMT 100 Index erased 67.59 points to 10,669.26, FBM 70 fell 106.54 points to 14,546.25, FBM Emas Shariah Index contracted 72.36 points to 12,031.92, and the FBM ACE declined 35.26 points to 7,082.47.

Sector-wise, the Financial Services Index gave up 77.0 points for 14,714.66, the Plantation Index shed 21.64 points to 6,066.45, while the Industrial Products and Services Index slipped 1.05 points to 187.51.

Main Market volume decreased to 2.51 billion shares worth RM2.2 billion from 2.73 billion shares valued at RM2.28 billion yesterday.

Warrants turnover narrowed slightly to 323.06 million units worth RM40.34 million compared with yesterday’s 328.07 million units valued at RM48.18 million.

Volume on the ACE Market fell sharply to 827.7 million shares worth RM292.18 million against 1.1 billion shares valued at RM386.25 million previously.

Consumer products and services accounted for 787.02 million shares traded on the Main Market, industrial products and services (611.12 million), construction (89.67 million), technology (434.74 million), SPAC (nil), financial services (56.43 million), property (213.04 million), plantation (14.38 million), REITs (4.22 million), closed/fund (24,000), energy (177.11 million), healthcare (66.36 million), telecommunications and media (18.82 million), transportation and logistics (26.89 million), and utilities (14.55 million).

In a filing with Bursa Malaysia, Connectcounty Holdings Bhd announced that its securities would be traded and quoted under the new name of Waja Konsortium Bhd.

Meanwhile, Johore Tin Bhd has changed its name to Able Global Bhd. Both changes will take effect from 9am, August 9, 2021. — Bernama

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