KL shares end in the red
KUALA LUMPUR: Share prices on Bursa Malaysia ended in the red as buying sentiment was hampered by the unfavourable Manufacturing Purchasing Managers' Index (PMI), released today.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,763.11, down 2.76 points, from yesterday's close of 1,765.87.
After opening 1.3 points weaker at 1,764.57, the local index moved between 1,759.73 and 1,765.88 throughout the day.
On the broader market, losers thumped gainers 505 to 414, with 336 counters unchanged, 515 untraded and 28 others were suspended.
Volume decreased to 2.21 billion units, valued at RM2.23 billion, from 2.71 billion units, worth RM5.17 billion, recorded yesterday.
A dealer said Malaysia's lower Manufacturing PMI, which fell to 48.7 in May, was in line with the performance of factories across most Asian countries as export demand slowed, however, this slowdown was likely to be temporary given signs of steady improvement in the world economy.
"The index also revealed that manufacturers are optimistic over growth prospects, particularly for higher sales, new projects and product lines, which are expected to underpin output over the next 12 months," he added.
On the technical front, Kenanga Research said the FBM KLCI was still consolidating sideways within the range of between 1,760 and 1,784, with a downside bias for the immediate-term given the lack of catalyst in the market.
In a note, the research house said overhead resistance was seen between 1,784 and 1,800 and support levels at 1,760 and 1,743.
Among heavyweights, Maybank and Public Bank eased two sen to RM9.42 and RM20.04, respectively, Petronas Chemicals fell 14 sen to RM7.19, both TNB and Sime Darby were both at RM13.78 and RM9.32, respectively.
On actives, Iris lost 1.5 sen to 15 sen while Borneo Oil and NetX Holdings shed half-a-sen each to 12.5 sen and 5.5 sen, respectively.
The FBM Emas Index was 11.26 points lower at 12,558.64, the FBMT 100 Index lost 10.2 points to 12,204.45 and the FBM Emas Syariah Index shed 56.56 points to 12,747.46.
The FBM Ace rose 35.18 points to 6,167.59 and the FBM 70 increased 20.93 points to 14,936.6.
Sector-wise, the Finance Index jumped 50.68 points to 16,570.77, the Industrial Index increased 3.71 points to 3,251.52 but the Plantation Index was down 49.98 points at 7,918.91.
Main Market turnover fell to 1.53 billion units, worth RM2.12 billion, from 2.04 billion units, worth RM5.07 billion, recorded yesterday.
Volume on the ACE Market improved to 443.79 million units, valued at RM84.53 million, Wednesday's 418.07 million units valued at RM75.90 million.
Warrants declined to 228.52 million units, worth RM25.06 million, from 278.38 million units, valued at RM26.86 million, recorded yesterday.
Consumer products accounted for 123.41 million shares traded on the Main Market, industrial products (418.83 million), construction (91.55 million), trade and services (552.27 million), technology (59.83 million), infrastructure (8.56 million), SPAC (280,000), finance (89.57 million), hotels (984,000), properties (168.73 million), plantations (18.66 million), mining (20,000), REITs (5.51 million), and closed/fund (45,800).
The physical price of gold as at 5pm stood at RM168.94 per gramme, up 83 sen from RM168.11 at 5pm yesterday. — Bernama