Bursa ends lower

BURSA Malaysia ended lower on Monday with the key index moving in a narrow range, while buying activities were seen mainly in energy, construction, and transportation stocks.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 10.24 points or 0.69% to 1,471.56 from last Friday’s closing of 1,481.80.

The market barometer opened 0.28 of-a-point higher at 1,482.08, and moved between 1,470.33 and 1,482.08 throughout the day.

However, market breadth was positive with gainers outpacing losers 524 to 486, while 392 counters were unchanged, 839 untraded, and nine others suspended.

Turnover increased to 3.99 billion units worth RM2.07 billion from last Friday’s 3.35 billion units worth RM2.28 billion.

Rakuten Trade Sdn Bhd equity research VP Thong Pak Leng said the FBM KLCI closed in negative territory today as investors shifted their buying interests to smaller cap stocks.

“We believe the sell-down today and last Friday provides more (opportunities for) upsides for investors, hence, we reckon bargain hunting may prevail anytime soon. We anticipate the index to trend within the 1,470-1,500 range,” he told Bernama.

Meanwhile, the key regional indices were mostly higher on the reopening of the economy in China after a prolonged Covid-19 lockdown as the Chinese government scaled back Covid-19 restrictions in more cities.

Region-wise, Singapore’s Straits Times Index gained 0.26% to 3,267.54, Japan’s Nikkei 225 Index went up 0.15% to 27,820.40, Hong Kong’s Hang Seng Index surged 4.51% to 19,518.29, while China’s SSE Composite Index rose 1.76% to 3,211.81.

Among Bursa Malaysia heavyweights, Public Bank Bhd rose three sen to RM4.44, IHH Healthcare Bhd climbed two sen to RM5.85, Malayan Banking Bhd and CIMB Group Holdings Bhd were flat at RM8.58 and RM5.64, respectively, Petronas Chemicals Group Bhd eased two sen RM8.50 and Tenaga Nasional Bhd fell 31 sen to RM9.07.

Of the actives, MQ Technology Bhd and SM Technology Bhd advanced 1.5 sen each to seven sen and eight sen respectively, Dataprep Holdings Bhd jumped 10.5 sen to 27.5 sen, Icon Offshore Bhd edged up half-a-sen 16 sen, while Borneo Oil Bhd and Advance Synergy Bhd were flat at two sen and 19 sen respectively.

On the index board, the FBM Emas Index decreased 66.51 points to 10,586.69, the FBM T100 Index fell 78.02 points to 10,279.13, while the FBM Emas Shariah Index dipped 110.46 points to 10,767.45, the FBM 70 declined 124.02 points to 12,947.17, while the FBM ACE garnered 57.28 points to 5,423.17.

Sector-wise, the Financial Services Index inched down 0.57 of-a-point to 16,445.85, the Industrial Products and Services Index shed 0.26 of-a-point to 181.56, the Plantation Index fell 54.79 points to 6,753.06, while the Energy Index increased 14.65 points to 814.76.

The Main Market volume expanded to 2.43 billion shares worth RM1.68 billion from last Friday’s 2.22 billion shares worth RM1.92 billion.

Warrants turnover swelled to 388.7 million units valued at RM81.06 million against 235.54 million units valued at RM39.49 million previously.

The ACE Market volume surged to 1.17 billion shares worth RM306.25 million from 889.48 million shares worth RM320.66 million last Friday.

Consumer products and services counters accounted for 416.25 million shares traded on the Main Market, industrial products and services (762.57 million); construction (78.59 million); technology (372.89 million); SPAC (nil), financial services (77.72 million); property (173.91million); plantation (20.31 million); REITs (4.26 million), closed/fund (12,200); energy (344.15 million); healthcare (66.61 million); telecommunications and media (27.37 million); transportation and logistics (44.98 million); and utilities (35.89 million). — Bernama/pic by Bernama