Bursa Malaysia ends lower

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.12 points to 1,583.08 from yesterday’s close of 1,584.20. — Bernama pic
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.12 points to 1,583.08 from yesterday’s close of 1,584.20. — Bernama pic

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KUALA LUMPUR, Oct 27 — Bursa Malaysia ended lower today on lack of fresh catalysts.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.12 points to 1,583.08 from yesterday’s close of 1,584.20.

The market bellwether opened 3.02 points higher at 1,587.22 and fluctuated between 1,581.76 and 1,591.64 throughout the day.

Market breadth was also negative with losers trouncing gainers 632 to 386, while 420 counters were unchanged, 863 untraded, and 45 others suspended.

Turnover increased slightly to 4.02 billion units valued at RM2.50 billion from yesterday’s 3.83 billion units worth at RM2.37 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng reckons that the FBM KLCI to remain well supported from foreign funds.

Meanwhile, he said crude palm oil rebounded to assail to a record-breaking month in October for average crude palm oil price at above the RM5,000 per tonne threshold, signalling buying opportunity for plantation stocks.

“We expect the index to hover within the 1,585-1,600 range for the remaining of the week. From a technical point of view, immediate resistance is unchanged at 1,615 while immediate support remains at 1,565,” Thong told Bernama.

Regional markets were mostly lower as investors remained concerned about higher inflation and the indebted real estate sector in the region.

Singapore’s Straits Times Index advanced 0.44 per cent to 3,218.75, Japan’s Nikkei 225 shed 0.03 per cent to 29,908.24 and Hong Kong’s Hang Seng Index declined 1.57 per cent to 25,682.74.

Of the heavyweights, Maybank and Petronas Chemicals added one sen each to RM8.13 and RM8.79, respectively, Public Bank and IHH Healthcare were flat at RM4.23 and RM6.55, respectively, TNB fell one sen to RM9.70, and Press Metal slid six sen toi RM5.70. 

As for the actives, Redtone Digital surged 13.5 sen to 69 sen, Metronic and LKL were flat at 2.5 sen and 13 sen, respectively, Vortex shed two sen to eight sen, KNM contracted 1.5 sen to 20 sen, and Hiap Teck lost eight sen to 57 sen.

On the index board, the FBM Emas Index slid 8.40 points to 11,665.76, the FBMT 100 Index was 3.21 points lower at 11,304.40, the FBM 70 improved 19.78 points to 15,330.10, the FBM ACE reduced 48.45 points to 7,121.66, and the FBM Emas Shariah Index went down 31.89 points to 12,707.62. 

Sector-wise, the Financial Services Index increased 34.42 points to 15,749.85, the Industrial Products and Services Index gave up 1.22 point to 208.69, and the Plantation Index dipped 39.52 points to 6,954.79.

The Main Market volume rose to 2.64 billion shares worth RM2.14 billion from yesterday’s 2.29 billion shares worth RM2.05 billion.

Warrants turnover increased to 275.28 million units worth RM46.90 million from 243.75 million units worth RM37.87 million yesterday.

Volume on the ACE Market eased to 1.10 billion shares valued at RM319.45 million from 1.28 billion shares valued at RM282.02 million yesterday.

Consumer products and services counters accounted for 341.74 million shares traded on the Main Market, industrial products and services (1.19 billion), construction (90.22 million), technology (233.51 million), SPAC (nil), financial services (60.39 million), property (174.83 million), plantation (24.09 million), REITs (6.29 million), closed/fund (15,100), energy (352.15 million), healthcare (42.51 million), telecommunications and media (30.05 million), transportation and logistics (72.86 million), and utilities (16.40 million). — Bernama

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