KUALA LUMPUR: Bursa Malaysia reversed earlier gains to end the day easier, in tandem with regional stock markets, dragged down by late profit-taking in selected index-linked counters.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 1.26 points weaker at 1,386.53 against 1,387.79 registered at Wednesday’s close, after fluctuating between 1,378.30 and 1,398.53 throughout the session.
The barometer index, which started the day lower recovered after two hours into trading. However, profit- taking emerged 10 minutes before trading ended.
However, on the broader market, gainers outpaced losers 624 to 253, while 381 counters were unchanged, 646 untraded and 19 others suspended.
Turnover decreased to 4.83 billion shares worth RM2.67 billion from 5.54 billion shares worth RM2.73 billion registered yesterday.
AxiCorp global chief market strategist Stephen Innes said sentiment on Bursa was influenced by the recovery in the crude oil price as well as the stabalising China economy over the short term.
He also said Japanese Prime Minister Shinzo Abe’s proposal to build an economy that is less dependent on China and relocationg to other parts of ASEAN countries has benefited Malaysia.
“They will relocate to other parts of Asia with Malaysia thought to be a prime destination given the relatively open economy, energy sufficiency and manufacturing. This is an emerging story to watch,” he told Bernama.
Innes reiterated the key resistance for the benchmark index at the 1,400 level, but the ultimate pivot is 1,450, suggesting risk green lights are turning back on.
Among heavyweights, Public Bank added 10 sen to RM15.94 and Maxis bagged 16 sen to RM5.46.
Maybank eased six sen to RM7.58, Petronas Chemicals slipped two sen to RM5.40, while both Tenaga and IHH Healthcare were flat at RM12.24 and RM5.23, respectively.
Of the actives, Lambo was flat at two sen, Xidelang gained one sen to eight sen, Dagang Nexchange perked up 2.5 sen to 15.5 sen, while Hibiscus inched down half-a-sen to 47 sen.
On the index board, the FBM Emas Index was 15.5 points higher at 9,625, the FBMT 100 Index gained 7.53 points to 9,512.94, the FBM Emas Shariah Index improved 29.19 points to 10,675.6, the FBM ACE soared 116.81 points to 4,424.6, while the FBM 70 advanced 76.19 points to 11,387.27.
Sector-wise, the Financial Services Index expanded 27.97 points to 12,445.67, the Industrial Products and Services Index added 0.44 of-a-point to 115.81, but the Plantation Index fell 7.16 points to 6,279.47.
Main Market volume decreased to 3.14 billion shares worth RM2.41 billion from 3.74 billion shares worth RM2.45 billion yesterday.
Warrants turnover narrowed to 377.48 million units worth RM64.35 million from 379.19 million units worth RM66.34 million.
Volume on the ACE Market reduced to 1.31 billion shares worth RM193.41 million from 1.42 billion shares worth RM215.27 million previously.
Consumer products and services accounted for 568.89 million shares traded on the Main Market, industrial products and services (585.61 million), construction (165.03 million), technology (432.67 million), SPAC (nil), financial services (62.53 million), property (205.22 million), plantations (59.76 million), REITs (17.45 million), closed/fund (139,100), energy (751.57 million), healthcare (68.66 million), telecommunications and media (70.62 million), transportation and logistics (130.26 million), and utilities (19.99 million). - Bernama
