Bursa Malaysia Ends Lower As Selling Pressure In Oil-related Counters Weighs
KUALA LUMPUR, Aug 13 (Bernama) -- Bursa Malaysia ended on a softer note on Thursday, as selling pressure in oil-related counters weighed on the benchmark index following the rally in the previous session, an analyst said.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 6.90 points, or 0.40 per cent, to 1,734.71 compared with Wednesday’s close of 1,741.61.
The benchmark index opened 1.18 points higher at 1,742.79 and fluctuated between 1,732.83 and 1,742.79 throughout the day.
On the broader market, losers trounced gainers 703 to 410, while 603 counters were unchanged, 1,082 untraded and 15 suspended.
Turnover decreased to 3.51 billion units valued at RM3.05 billion from 3.70 billion units valued at RM3.27 billion on Wednesday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said overall sentiment remained fragile amid lingering concerns over the global economic outlook and regional headwinds, although softer United States inflation provided some relief to the broader risk environment.
It was reported that the US consumer inflation eased to 3.4 per cent year-on-year in July from 3.5 per cent previously, in line with expectations, as energy price pressures moderated.
“The softer inflation reading reduced expectations of a further US Federal Reserve tightening and offered some support to global risk appetite.
“Nevertheless, investors remained cautious, with market direction likely to depend on upcoming economic data and catalysts that could determine the next move in equities,” he said.
Among the heavyweights, CIMB Group gained three sen to RM7.95, Maybank was flat at RM10.60, Public Bank shed three sen to RM5.16, while Tenaga Nasional and IHH Healthcare both erased eight sen to RM14.50 and RM8.27, respectively.
On the most active list, Key ASIC added 4.5 sen to eight sen, SC Estate Builder was half a sen lower at half a sen, HHRG and NationGate were flat at 15.5 sen and RM1.56, respectively, and Dagang NeXchange lost two sen to 51 sen.
Of the top gainers, Nestle climbed 60 sen to RM103.50, Malaysian Pacific Industries garnered 34 sen to RM47.84, UMS Integration leapt 30 sen to RM8.45, Kee Ming Group jumped 16 sen to RM2.29, and Genting Plantations rose 13 sen to RM5.70.
As for the top losers, Hong Leong Bank fell 36 sen to RM22.34, Fraser & Neave gave up 32 sen to RM26.58, United Plantations declined 30 sen to RM33.30, Malaysia Smelting Corporation dropped 21 sen to RM2.01 and Lysaght Galvanized Steel shrank 20 sen to RM2.40.
On the index board, the FBM ACE Index increased 41.22 points to 5,244.65, while the FBM Emas Index slipped 60.15 points to 12,858.55, and the FBMT 100 Index declined 56.13 points to 12,672.70.
The FBM Emas Shariah Index fell 75.89 points to 12,694.98 and the FBM 70 Index tumbled 105.60 points to 18,330.21
By sector, the Energy Index edged down 2.42 points to 783.32, the Financial Services Index slid 43.01 points to 20,357.02, the Plantation Index slumped 94.68 points to 9,373.66, and the Industrial Products and Services Index eased 0.87 of a point to 189.48.
The Main Market volume declined to 1.77 billion units valued at RM2.64 billion compared to 1.94 billion units valued at RM2.90 billion on Wednesday.
Warrants turnover narrowed to 956.43 million units worth RM137.35 million versus 1.08 billion units worth RM140.95 million previously.
The ACE Market volume expanded to 784.66 million units valued at RM267.74 million from 668.48 million units valued at RM227.01 million yesterday.
Consumer products and services counters accounted for 151.81 million shares traded on the Main Market, industrial products and services (272.49 million), construction (155.73 million), technology (557.57 million), financial services (80.39 million), property (153.17 million), plantation (39.34 million), real estate investment trusts (25.56 million), closed-end fund (346,700), energy (91.14 million), healthcare (82.83 million), telecommunications and media (30.88 million), transportation and logistics (54.60 million), utilities (80.99 million), and business trusts (321,100).
-- BERNAMA