KUALA LUMPUR, June 29 — Shares on Bursa Malaysia closed broadly lower today in sync with the weak regional market sentiment, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.22 per cent or 3.26 points to 1,451.48 from yesterday’s close of 1,454.74.

The benchmark index, which opened 4.29 points lower at 1,450.45, moved between 1,445.23 and 1,459.86 throughout the trading session.

The overall market breadth was negative with decliners outpacing gainers 461 to 368, while 399 counters were unchanged, 1,078 untraded, and 89 others suspended.

Total turnover expanded to 2.37 billion units valued at RM1.77 billion from 2.28 billion units valued at RM1.61 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI tracked the key regional indices, which closed mostly lower following steep selloffs on Wall Street overnight.

He said market sentiment turned negative as the United States (US) consumer confidence crumbled to a 16-month low amid rapidly rising inflation.

“As for the local bourse, the FBM KLCI trended in a tight range today due to lack of buying support.

“Investors are wary on external factors given the increasing regional market volatility and uncertainties on global economic prospects,” he told Bernama.

The online equities broker said the local bourse would likely remain jittery although bargain hunting may prevail in the short term.

“Hence, we expect the FBM KLCI to trend in range bound hovering within 1,440-1,460 for the remainder of the week, with immediate support at 1,430 and resistance at 1,460,” said Thong.

Among Bursa Malaysia heavyweights, Press Metal slipped 21 sen to RM4.65, Sime Darby Plantation slid 10 sen to RM4.43, Public Bank eased four sen to RM4.42, Petronas Chemicals lost 18 sen to RM9.07, and PPB Group dropped 40 sen to RM15.70.

Maybank added one sen to RM8.65 and IHH gained two sen to RM6.50.

Of the actives, Reach Energy shed half-a-sen to 5.5 sen, Top Glove increased seven sen to RM1.12, Borneo Oil was flat at 2.5 sen, Cypark fell seven sen to 38 sen, and Hibiscus Petroleum was down four sen to 99 sen.

On the index board, the FBM Emas Index was 26.18 points easier at 10,349.67, the FBM 70 slipped 31.18 points to 12,503.07, the FBM Emas Shariah Index declined 16.49 points to 10,539.25, and the FBMT100 Index lost 23.24 points to 10,087, but the FBM ACE rose 45.23 points to 4,840.09.

Sector-wise, the Financial Services Index dipped 50.99 points to 16,062.87, the Plantation Index was 71.53 points lower at 6,971.64, and the Industrial Products and Services Index eased 3.28 points to 181.28.

The Main Market volume decreased to 1.52 billion shares valued at RM1.55 billion from 1.54 billion shares worth RM1.14 billion yesterday.

Warrants turnover widened to 463.47 million units worth RM93.38 million against 442.16 million units valued at RM103.18 million yesterday.

The ACE Market volume swelled to 385.71 million shares valued at RM96.16 million versus 119.40 million shares worth RM96.16 million previously.

Consumer products and services counters accounted for 150.09 million shares traded on the Main Market, industrial products and services (457.18 million), construction (45.48 million), technology (157.99 million), SPAC (nil), financial services (47.36 million), property (91.67 million), plantation (27.66 million), REITs (4.56 million), closed/fund (nil), energy (270.16 million), healthcare (205.09 million), telecommunications and media (34.27 million), transportation and logistics (23.60 million), and utilities (12.32 million). — Bernama