KL shares end lower on extended consolidation
KUALA LUMPUR: Share prices on Bursa Malaysia closed lower today on extended consolidation amid mild profit-taking and lack of participation from regular institutional and retail investors, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,785.57, down 0.35 of-a-point, from yesterday's close of 1,785.92.
The key index opened 1.17 points lower at 1,784.75 and moved within a tight range of between 1,789.02 and 1,783.13 throughout the day.
Market breadth ended negative with decliners outpacing gainers 459 to 419 while 389 counters were unchanged, 513 untraded and 23 others were suspended.
Volume declined to 1.97 billion units, valued at RM2.17 billion, from the 2.36 billion units, valued at RM2.36 billion, transacted on Wednesday.
Among heavyweights, Maybank and Sime Darby advanced two sen each to RM9.57 and RM9.59, respectively, TNB erased two sen to RM14.18 while Public Bank bagged 16 sen to RM20.32.
Meanwhile, laggards among the index components were banking stocks Hong Leong Bank, which shed 18 sen to RM15.22, CIMB slipped four sen to RM6.67 and RHB Bank eased nine sen to RM5.12.
An equity dealer said traders remained on the sidelines, awaiting fresh leads, with the turmoil at Felda Global Ventures Holdings Bhd (FGV) curbing investors' risk appetite.
"Investors adopted a cautious stance while awaiting developments from the probe at FGV, the world's third-largest palm oil company, and ahead of a barrage of external events due this week.
"Market uncertainty and the shorter trading next week also prompted some investors to remain on the sidelines," he added.
Actively traded stocks included AT Systematization and Frontken which were flat at 4.5 sen and 31.5 sen, respectively, Anzo eased one sen to 25 sen while Dolphin, AirAsia X, Hiap Teck and Iris inched up half-a-sen to 23 sen, 42 sen, 33 sen and 15.5 sen, respectively.
Hartalega led the top gainers, adding 53 sen to RM7.00 while the top loser was United Plantations which fell 44 sen to RM28.00.
On the scoreboard, the FBM Emas Index increased 15.96 points to 12,737.26, the FBMT100 Index rose 15.58 points to 12,375.66 and the FBM Emas Shariah Index gained 33.37 points to 12,977.78.
The FBM 70 improved 86.84 points to 15,205.41 but the FBM Ace edged down 17.27 points to 6,331.48.
On a sectoral basis, the Industrial Index advanced 9.86 points to 3,307.13, the Finance Index retraced 35.99 points to 16,776.64 while the Plantation Index trimmed 18.73 points to 7,941.63.
Main Market turnover shrank to 1.33 billion units, worth RM2.05 billion, from 1.70 billion units, worth RM2.26 billion, recorded on Wednesday.
Volume on the ACE Market rose to 418.46 million units, valued at RM88.84 million, from 306.89 million units, valued at RM61.19 million, registered yesterday.
Warrants declined to 205.43 million units, worth RM21.59 million, from Wednesday's 324.34 million units worth RM29.25 million.
Consumer products accounted for 74.94 million shares traded on the Main Market, industrial products (359.66 million), construction (102.65 million), trade and services (477.19 million), technology (65.67 million), infrastructure (8.69 million), SPAC (3.69 million), finance (82.57 million), hotels (338,000), properties (126.50 million), plantations (22.03 million), mining (0), REITs (11.12 million), and closed/fund (5,000).
The physical price of gold as at 5pm stood at RM170.75 per gramme, down 72 sen from RM171.47 at 5pm yesterday. — Bernama