KUALA LUMPUR: Bursa Malaysia ended the last trading day in November on a lower note, with the market barometer FBM KLCI slipping below the key 1,600 level as concerns over rising Covid-19 cases overshadowed positive vaccine news.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.79 per cent or 44.88 points to 1,562.71 compared with Friday’s close of 1,607.59, dragged by heavy losses in heavyweights on profit-taking.
The index opened 0.82 of-a-point lower at 1,606.77 and moved between 1,562.71 and 1,614.77 throughout the day.
On the broader market, gainers outnumbered losers 689 to 563 while 443 counters were unchanged, 476 untraded and 80 others suspended.
Volume decreased to 9.02 billion units worth RM7.71 billion from 10.35 billion units worth RM5.47 billion last Friday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the spike in Covid-19 cases across the region, for example in Jakarta, caused investors to book profits at the end of a stellar month of gains in November, underpinned by optimism about an effective vaccine.
In addition, investors also reacted negatively to Malaysian banks’ disappointing third-quarter results such as CIMB and Public Bank.
The regional markets were also down with Singapore’s Straits Times Index dropping 1.75 per cent to 2,805.95, Japan’s Nikkei 225 fell 0.79 per cent to 26,433.62, Hong Kong’s Hang Seng Index lost 2.06 per cent to 26,341.49, while Indonesia’s Jakarta Composite Index slid 2.96 per cent to 5,612.42.
An analyst said investors were also awaiting cautiously the outcome of the meeting between OPEC and its allies tomorrow, which saw the Brent crude and the West Texas Intermediate declining to US$47.32 and US$44.85 per barrel, respectively.
It was reported that the OPEC+ oil cartel will meet today and tomorrow.
At home, Public Bank lost RM1.20 to RM17.40, CIMB dropped 20 sen to RM3.63, Maybank inched down 39 sen to RM7.90, Petronas Dagangan slipped RM1.24 to RM20.76, and Petronas Chemicals was 44 sen lower at RM6.42.
In contrast, Hong Leong Bank added 16 sen to RM17.18 and Top Glove expanded 13 sen to RM7.12.
Among the actives, AT Systematization and Sapura Energy were flat at 20 sen and 11.5 sen respectively, while Kanger International was down half-a-sen to 18 sen.
On the index board, the FBM Emas Index shed 207.16 points to 11,334.87, the FBMT 100 Index declined 220.41 points to 11,100.74 and the FBM Emas Shariah Index decreased 121.54 points to 13,147.37.
The FBM 70 rose 88.53 points to 14,828.92 and the FBM ACE added 112.12 points to 10,701.61.
Meanwhile, the Industrial Products and Services Index eased 1.82 points to 160.66, the Plantation Index was 19.16 points lower at 7,216.73 and the Financial Services Index slipped 458.89 points to 13,804.21.
The Main Market volume increased to 5.49 billion shares worth RM6.57 billion from 4.66 billion shares worth RM3.84 billion on Friday.
Warrants turnover expanded to 798.72 million units worth RM150.37 million from 710.5 million units worth RM127.56 million.
Volume on the ACE Market, however, dwindled to 2.72 billion shares worth RM981.18 billion from 4.98 billion shares worth RM1.50 billion previously.
Consumer products and services accounted for 672.95 million shares traded on the Main Market, industrial products and services (1.5 billion), construction (329.06 million), technology (327.94 million), SPAC (nil), financial services (183.36 million), property (352 million), plantations (322.72 million), REITs (12.82 million), closed/fund (78,100), energy (848.53 million), healthcare (160.4 million), telecommunications and media (113.72 million), transportation and logistics (264.11 million), and utilities (403.38 million). — Bernama