Bursa Malaysia ends mixed, CI up marginally

KUALA LUMPUR: Bursa Malaysia ended mixed today as late buying in heavyweights lifted the barometer index into the positive territory, a dealer said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.79 of-a-point better at 1,515.39 compared with Tuesday’s close of 1,514.60.

The index opened 3.14 points lower at 1,511.46 and moved between 1,509.81 and 1,516.35 throughout the session.

However, on the broader market, losers outpaced gainers 509 versus 411, while 459 counters were unchanged, 864 untraded, and 48 others suspended.

Turnover fell to 3.65 billion units valued at RM2.16 billion from Tuesday’s 4.38 billion units valued at RM2.67 billion.

A dealer said the local bourse opened lower and stayed mostly negative throughout the session, taking the cue from overnight US equities, which were broadly lower as profit-taking set in as a regulatory clampdown by Beijing swept into the US markets.

However, he said last-minute buying stints in selected heavyweights helped to lift the key index marginally higher, although the broader market remained negative.

“The performance was in line with most Asian markets which recouped their earlier losses to end higher, as investors continued to assess the Chinese government’s new rules which were widely seen as negative for the technology and education sectors.

“Investors were also awaiting the US Federal Reserve’s policy decision to be released later today for clues on the central bank’s timeline for asset tapering and interest rate hikes for market direction,” he told Bernama.

Regionally, the Singapore’s Straits Times Index gained 0.09 percent to 3,141.75, South Korea’s Kospi added 0.13 per cent to 3,236.86, and Hong Kong’s Hang Seng Index advanced 1.54 percent to 25,473.88, but Japan’s Nikkei 225 slipped 1.39 per cent to 27,581.66.

Meanwhile, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim added that regional sentiment was dominated by Beijing’s regulatory crackdown while the local sentiment remained weak as Covid-19 cases reached a new high of 17,405 cases on Wednesday.

Of the heavyweights, Maybank and Petronas Chemicals added four sen each to RM8.04 and RM7.99 respectively, TNB gained five sen to RM9.78, IHH Healthcare slid three sen to RM5.80, while Public Bank was flat at RM4.01.

Among the actives, Hwa Tai rose 29.5 sen to RM1.07, Ecofirst warrant advanced 4.5 sen to six sen, Sersol improved one sen to 50 sen, while XOX and AT Systematization were both flat at four sen and 6.5 respectively.

On the index board, the FBM Emas Index decreased 7.12 points to 11,092.22, the FBM ACE declined 11.06 points to 7,240.18, and the FBMT 100 Index shed 4.57 points to 10,799.06.

The FBM Emas Shariah Index was 13.73 points lower at 12,197.59 and the FBM 70 slipped 46.02 points to 14,558.97.

Sector-wise, the Plantation Index fell 29.43 points to 6,170.02 and the Industrial Products and Services Index slid 0.42 of-a-point to 188.02, while the Financial Services Index increased 30.49 points to 14,795.34,

Main Market volume reduced to 2.08 billion shares valued at RM1.68 billion from Tuesday’s 2.23 billion shares valued at RM2.06 billion.

Warrants turnover narrowed to 314.96 million units worth RM54.30 million from 399.40 million units worth RM52.50 million yesterday.

Volume on the ACE Market shrank to 1.25 billion shares valued at RM423.39 million from 1.75 billion shares valued at RM554.18 million on Tuesday.

Consumer products and services accounted for 488.83 million shares traded on the Main Market, industrial products and services (637.08 million), construction (86.39 million), technology (229.60 million), SPAC (nil), financial services (114.71 million), property (209.76 million), plantation (16.97 million), REITs (6.06 million), closed/fund (19,000), energy (137.44 million), healthcare (59.79 million), telecommunications and media (19.71 million), transportation and logistics (68.48 million), and utilities (9.40 million). — Bernama