Bursa Malaysia ends marginally lower

BURSA Malaysia Bhd erased earlier gains to close marginally lower today as profit-taking emerged in utilities and telecommunication companies, amid cautious performance on the regional markets, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.62 of-a-point to end at 1,518.16 compared to Tuesday’s close of 1,518.78.

The benchmark index, which opened 0.77 of-a-point higher at 1,519.55 this morning, moved between 1,516.57 and 1,527.84 throughout the day.

Market breadth was slightly negative as losers led gainers 444 to 394, while 436 counters were unchanged, 1,005 untraded and six others suspended.

Total turnover increased to 2.72 billion units worth RM1.91 billion from 2.69 billion units worth RM2.22 billion on Tuesday.

Petronas Gas Bhd and DiGi.com Bhd were among the biggest contributors to the losses in the composite index, declining 28 sen and seven sen to RM17.02 and RM3.79 respectively, contributing a combined 1.87 points.

Meanwhile, Rakuten Trade Sdn Bhd VP of equity research Thong Pak Leng said the FBM KLCI closed marginally lower as inventors took profit during the final hour of trading.

“Key regional markets were higher with Chinese indices rising sharply as investors looked to more stimulus measures to boost economic growth. As for the local bourse, despite some profit-takings, we believe the market undertone remains steady due to improving investor sentiment and foreign buying support.

“Year-to-date, the local market was aided by continuous inflow of foreign funds amounting to RM7.4 billion. As such, we anticipate the FBM KLCI to trend within the range of 1,510-1,530 for the remainder of the week, with immediate resistance at 1,530 and support at 1,500,” he told Bernama.

Among other heavyweights, Malayan Banking Bhd, Public Bank Bhd and CIMB Group Holdings Bhd were flat at RM8.97, RM4.56 and RM5.45 respectively, Petronas Chemicals Group Bhd slipped three sen to RM8.72, while IHH Healthcare Bhd added one sen to RM6.50.

Of the actives, Metronic Global Bhd was flat at five sen, Pegasus Heights Bhd advanced one sen to 1.5 sen, Hartalega Holdings Bhd declined three sen to RM1.74 and TWL Holdings Bhd trimmed half-a-sen to 5.5 sen. — Bernama / Pic by Muhd Amin Naharul