KUALA LUMPUR: Bursa Malaysia bucked the trend in major regional markets to close lower today, with its key index settling below the 1,600 psychological level, dampened by continued selling by foreign investors amid weak market sentiment.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 10.71 points easier at 1,597.71 against Monday’s close of 1,608.42.
The index, which opened 0.29 of-a-point better at 1,608.71, fluctuated between 1,594.89 and 1,608.79 throughout the day.
On the broader market, losers trounced gainers 740 versus 329, while 668 counters were unchanged, 421 untraded and 11 others suspended.
Total volume increased to 6.39 billion shares valued at RM3.06 billion from 5.86 billion shares worth RM3.35 billion on Monday.
OANDA senior market analyst, Asia Pacific, Jeffrey Halley said sentiment in the market was clouded by the extension of the Conditional Movement Control Order (CMCO) and Recovery Movement Control Order (RMCO) in several states.
“That would explain the broad based retreat today,” he told Bernama.
Meanwhile, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the decline in the FBM KLCI was in line with some ASEAN peers, while the North Asian markets saw gains as they reacted towards China’s robust exports growth in March.
He noted that glove counters, namely Top Glove, Hartalega and Supermax were the major decliners with all three losing more than 2.0 per cent during the day, while the Bursa Malaysia Healthcare Index was the largest loser among other sectoral indices with a 1.2 per cent drop.
“The fall in rubber glove counters was despite concerns over rising Covid-19 cases which provide ground for continuing demand for rubber gloves.
“Investors generally moved to the sidelines on Tuesday as they await the release of the United States’ inflation data, which will indicate if consumer prices are really rising amid the anticipated economic growth this year,” he said.
Of the heavyweights, Public Bank bagged two sen to RM4.23, IHH Healthcare added one sen to RM5.39, while Maybank was flat at RM8.32.
Petronas Chemicals dipped 10 sen to RM7.88, Tenaga shed four sen to RM10.20, Top Glove lost 17 sen to RM5.08, and Supermax gave up 12 sen to RM4.46.
Among the active counters, Minda earned 5.5 sen to 17.5 sen, CNI added two sen to 21.5 sen, Luster trimmed 2.5 sen to 22 sen, while BJCorp eased three sen to 40 sen.
On the index board, the FBM Emas Index was 72.57 points lower at 11,815.77, the FBMT 100 decreased 69.22 points to 11,467.88, the FBM Emas Shariah lost 93.25 points to 13,168.02, the FBM 70 fell 65.86 points to 15,777.17 and the FBM ACE erased 305.12 points for 9,448.87.
Sector-wise, the Industrial Products and Services Index slipped 1.82 points to 193.76, the Plantation Index went down 16.0 points to 6,944.02, while the Financial Services Index reduced 45.06 points to 15,157.58.
Main Market volume increased to 4.35 billion shares valued at RM2.51 billion from 3.71 billion shares worth RM2.71 billion on Monday.
Warrants turnover slipped to 334.94 million units valued at RM44.54 million from yesterday’s 337.82 million units valued at RM44.17 million.
Volume on the ACE Market eased to 1.7 billion shares worth RM507.55 million from 1.8 billion shares worth RM598.12 million previously.
Consumer products and services accounted for 1.36 billion shares traded on the Main Market, industrial products and services (1.49 billion), construction (260.1 million), technology (320.65 million), SPAC (nil), financial services (51.69 million), property (297.78 million), plantations (29.76 million), REITs (5.78 million), closed/fund (4,800), energy (254.18 million), healthcare (55.82 million), telecommunications and media (85.55 million), transportation and logistics (105.93 million), and utilities (29.53 million). — Bernama
