KUALA LUMPUR: Selling pressure in selected consumer products counters and most of the heavyweights pulled Bursa Malaysia down to end at its day’s low, in line with the performance of regional peers amid growing concerns over the sharp fall in crude oil prices, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 31.39 points to 1,381.73 from 1,413.12 at yesterday’s close.
The barometer index, which opened 5.89 points lower at 1,407.23 points, went as high as 1,411.69 during the day.
The overall market breadth remained bearish with losers thumping gainers 827 to 198, while 253 counters were unchanged, 634 untraded and 20 others suspended.
Turnover increased to 6.53 billion shares worth RM2.94 billion from 5.99 billion shares worth RM3.21 billion yesterday.
A dealer said Asian stock markets were lower today on worries over the low crude oil prices, with the West Texas Intermediate remaining in focus after the May contract expiring Tuesday plunged at the start of the week, taking US crude prices below zero for the first time in history amid rapidly filling American storage tanks.
“Those futures in New York fluctuated after sinking to as low as minus US$40.32 in the previous session. The June contract held above US$20, reflecting the growing fear that those who take physical delivery of crude in the near future may not find any outlet or storage for those barrels,” he added.
Meanwhile, a leadership crisis in North Korea, with Kim Jong Un reported to be in critical condition after undergoing cardiovascular surgery last week, could potentially have serious ramifications for regional stability as well as for talks with the US over the country’s nuclear arsenal.
Among the heavyweights, Maybank slipped 13 sen to RM7.56, TNB and IHH Healthcare declined 10 sen each to RM12.50 and RM5.13, respectively, and Public Bank and Petronas Chemicals slipped 42 sen each to RM15.74 and RM5.30, respectively.
Of the actives, Lambo eased half-a-sen to 1.5 sen and Velesto fell one sen to 15 sen, while NETX Holdings and AirAsia X were flat at one sen and 12.5 sen, respectively.
On the index board, the FBM Emas Index was 225.38 points weaker at 9,598.53, the FBMT 100 Index decreased 219.85 points to 9,482.95, the FBM Emas Shariah Index dropped 238.02 points to 10,603.30, the FBM ACE slipped 198.93 points to 4,314.70 while the FBM 70 erased 281.60 points to 11,363.48.
Sector-wise, the Financial Services Index shed 270.79 points to 12,454.04, the Industrial Products and Services Index fell 4.77 points to 116.05 and the Plantation Index lost 173.56 points to 6,182.39.
Main Market volume increased to 4.60 billion shares worth RM2.69 billion from 4.55 billion shares worth RM2.93 billion on Monday.
Warrants turnover widened to 454.49 million units worth RM97.31 million from yesterday’s 450.38 million units worth RM68.06 million.
Volume on the ACE Market expanded to 1.47 billion shares worth RM149.46 million from 988.39 million shares worth RM204.70 million previously.
Consumer products and services accounted for 1.13 billion shares traded on the Main Market, industrial products and services (981.02 million), construction (300.40 million), technology (290.96 million), SPAC (nil), financial services (71.42 million), property (301.55 million), plantations (80.48 million), REITs (10.72 million), closed/fund (216,000), energy (1.11 billion), healthcare (55.47 million), telecommunications and media (87.43 million), transportation and logistics (151.08 million), and utilities (32.70 million). - Bernama
