KUALA LUMPUR: Last-minute buying in heavyweight stocks helped push the key index on Bursa Malaysia to close the day on a high note, bucking the mixed regional performance amid weak market sentiment.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.95 point to finish at its intra-day high of 1,605.31 from 1,604.36 at close yesterday.
The barometer index, which was on a roller-coaster ride earlier before it recovered during the last 10 minutes of trading, had struggled to stay above the 1,600 level.
It opened 3.27 points weaker at 1,601.09 this morning and slid to a low of 1,595.15 at one time.
JF Apex Securities head of research, Lee Chung Cheng, said yesterday’s last-minute spike in bluechips attracted profit-taking activities today, resulting in selling in the index-linked counters.
He also said the sideways trading was also influenced by renewed concerns over the prospects of the US-China trade deal after a report said Beijing was pessimistic about the outlook.
“Investors turned sideways as they were cautious over the fate of the “phase one” agreement,” he told Bernama, adding the resistance level is now located at 1,610 with support at 1,570 level.
On the broader market, there were 408 gainers and 411 losers, while 417 counters were unchanged, 763 untraded and 17 others suspended.
Volume improved to 2.68 billion shares worth RM1.63 billion from 2.34 billion shares worth RM1.42 billion on Monday.
Among heavyweights, Tenaga rose six sen to RM13.76, Public Bank chalked up 12 sen to RM20.00, and CIMB bagged three sen to RM5.38.
Maybank eased one sen to RM8.65, IHH lost 11 sen to RM5.45, while Petronas Chemicals was flat at RM7.36.
Of the actives, Trive and Sapura Energy inched down half-a-sen each to one sen and 29.5 sen respectively, Tiger Synergy gained 1.5 sen to 7.5 sen, Bumi Armada added half-a-sen to 53 sen, while Fintec and AT Systematization perked one sen each to eight sen and 8.5 sen, respectively.
Meanwhile, Bursa Malaysia Securities announced that Karambunai Corp Bhd will be delisted from the main market official list effective Nov 21, Thursday, 9 am.
The construction and property development company’s shares closed the day flat at 11 sen.
The FBM Emas Index was 1.58 points easier at 11,369.25, the FBMT 100 Index slid 2.58 points to 11,180.03, the FBM Emas Shariah Index decreased 12.6 points to 11,895.73, and the FBM 70 fell 41.17 points to 14,084.14.
However, the FBM Ace improved 13.64 points to 4,951.27.
Sector-wise, the Financial Services Index advanced 14.52 points to 15,660.39, the Plantation Index edged up 5.3 points to 6,963.83, and the Industrial Products & Services Index added 0.17 point to 153.3.
Main Market volume widened to 1.74 billion shares worth RM1.43 billion compared with 1.48 billion shares valued at RM1.23 billion transacted on Monday.
Warrants turnover increased to 330.88 million units worth RM67.96 million versus yesterday’s 2294.68 million units valued at RM61.33 million.
Volume on the ACE Market improved to 608.59 million units worth RM131.48 million compared with 568.53 million units valued at RM128.17 million previously.
Consumer products and services accounted for 144.17 million shares traded on the Main Market, industrial products and services (253.39 million), construction (144.15 million), technology (449.85 million), SPAC (nil), financial services (32.73 million), property (199.13 million), plantations (27.66 million), REITs (14.08 million), closed/fund (5,000), energy (360.10 million), healthcare (14.48 million), telecommunications and media (55.61 million), transportation and logistics (26.77 million), and utilities (16.98 million). - Bernama