Mild profit-taking drags bursa Malaysia to end 0.28% lower
KUALA LUMPUR: Bursa Malaysia closed 0.28% lower today, dragged down by mild profit-taking and losses in selected blue chips.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,785.92, down 5.09 points, from yesterday's close of 1,791.01.
The key index opened 1.33 points lower at 1,789.68, and the movement was confined to a tight 6.73-point range of between 1,792.65 and 1,785.92 (the closing level) throughout the day.
Market breadth ended negative, with decliners outpacing gainers 459 to 396, while 389 counters were unchanged, 524 untraded and 19 others suspended.
Volume rose to 2.36 billion units valued at RM2.36 billion from the 2.30 billion units valued at RM2.62 billion on Tuesday.
Losers in the composite index component stocks were led by Genting Malaysia Bhd, which dipped 16 sen to RM5.62, while among other top heavyweights, Genting Bhd and Public Bank shaved off 14 sen each to RM9.81 and RM20.16, respectively.
Maybank and CIMB, meanwhile, shed three sen to RM9.55 and RM6.71, respectively.
A dealer said Bursa Malaysia lacked fresh leads with the market turning slightly jittery over the Middle East crisis, curbing investors' risk appetite.
Investors adopted a cautious stance ahead of a barrage of external events for the rest of this week, including ex-FBI chief's impending testimony in the US, the European Central Bank's policy decision and the UK election.
"And it's common to see profit-taking after a short rally," the equity dealer said, adding that market uncertainty and short trading week next week had prompted some investors to remain on the sidelines," he said.
Among actives, FrontKen added 2.5 sen to 31.5 sen, China Automobile added half-a-sen to one sen, and Borneo Oil eased half-a-sen to 11.5 sen.
FGV's share price was also in the active list, increased four sen to RM1.66 with 62.30 million shares transacted after heavy selling pressure yesterday following a boardroom tussle.
On the scoreboard, the FBM Emas Index shaved off 21.65 points to 12,721.30, the FBMT100 Index eased 23.04 points to 12,360.08, while the FBM Emas Syariah Index advanced 6.06 points to 12,944.41.
The FBM Ace edged up 7.35 points to 6,348.75 and the FBM 70 added 17.46 points to 15,118.57.
On a sectoral basis, the Finance Index erased 49.79 points to 16,812.63, the Industrial Index slipped 4.60 points to 3,297.27, while the Plantation Index climbed 9.20 points to 7,960.36.
Main Market turnover improved to 1.70 billion units worth RM2.26 billion from 1.55 billion units worth RM2.49 billion on Tuesday.
Volume on the ACE Market declined to 306.89 million units valued at RM61.19 million from 400.98 million units valued at RM87.96 million.
Warrants shrank to 324.34 million units worth RM29.25 million from 337.19 million units worth RM30.23 million previously.
Consumer products accounted for 112.61 million shares traded on the Main Market, industrial products (380.89 million), construction (93.62 million), trade and services (778.60 million), technology (32.67 million), infrastructure (11.21 million), SPAC (520,500), finance (75.40 million), hotels (488,400), properties (140.28 million), plantations (69.30 million), mining (1,000), REITs (4.98 million), and closed/fund (13,200).
The physical price of gold as at 5pm stood at RM171.47 per gramme, up 24 sen from RM171.23 at 5pm yesterday. — Bernama