Home Business Bursa Malaysia ends lower as sentiment remains weak

Bursa Malaysia ends lower as sentiment remains weak

Bursa Malaysia ends lower as sentiment remains weak 1

KUALA LUMPUR: Shares on Bursa Malaysia ended 1.87% lower today as market sentiment remained weak following the negative overnight performance on key global markets.

At the close, the FTSE Bursa Malaysia (FBM KLCI) fell 24.05 points to 1,256.58 from yesterday’s close of 1,280.63.

After opening 63.35 points lower at 1,217.28 this morning, the benchmark index moved between 1,211.43 and 1,278.43 throughout the day.

Turnover decreased to 4.43 billion shares worth RM3.87 billion from 4.47 billion shares worth RM3.68 billion yesterday.

On Wall Street, the Dow Jones Industrial Average plunged 2,997.10 points, or 12.9%, to settle at 20,188.52, which saw circuit breakers temporarily halt trading for 15 minutes, amid rising fears that fresh Federal Reserve stimulus would not be enough to combat the threat of lost jobs and wages from the Covid-19 outbreak.

The S&P 500 index declined 324.89 points, or 12%, to end at 2,386.13 while the Nasdaq Composite Index shed 970.28 points, or 12.3%, to finish at 6,904.59.

Closer to home, Singapore’s Straits Times Index declined 1.44% to 2,459.91, Jakarta Composite Index’s fell 4.99% to 4,456.75 and South Korea’s KOSPI Composite Index decreased 2.47% to 1,672.44.

On the local front, a dealer said losses were capped by mild bargain hunting as some traders were seen taking advantage of the current low prices, following yesterday’s selloff, to accumulate quality stocks such as Dialog, Hartalega, Sime Darby and Nestle.

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Dialog’s shares added 11 sen to RM2.91, Hartalega gained 13 sen to RM6.14, Sima Darby rose three sen to RM1.71 and Nestle was RM2.30 higher at RM135.50.

Other heavyweights, Maybank gained seven sen to RM7.36 while Tenaga fell six sen to RM11.24, Public Bank eased 60 sen to RM13.90 and IHH was 32 sen lower at RM4.68.

Of the actives, Sapura Energy eased half-a-sen to nine sen, Bumi Armada inched up half-a-sen to 14 sen and Hibiscus Petroleum declined 1.5 sen to 29 sen.

On the index board, the FBM Emas Index decreased 162.58 points to 8,626.78, the FBM 70 erased 159.30 points to 9,944.42 and the FBM Emas Shariah Index gave up 149.28 points to 9,361.05.

The FBMT 100 Index contracted 157.88 points to 8,550.63 and the FBM Ace lowered 159.68 points to 3,622.09.

Sector-wise, the Industrial Products and Services Index went down 1.54 points to 102.14, the Plantation Index gave up 146.73 points to 5,689.64 and the Financial Services Index was 232.81 points weaker at 11,662.48.

Main Market volume increased to 3.55 billion shares worth RM3.70 billion from 3.35 billion shares worth RM3.50 billion yesterday.

Warrants turnover decreased to 315.25 million units worth RM59.81 million from from 371.48 million units worth RM56.82 million.

Volume on the ACE Market declined to 560.50 million shares worth RM107.62 million from 750.50 million shares worth RM124.79 million.

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Consumer products and services accounted for 503.95 million shares traded on the Main Market, industrial products and services (485.66 million), construction (286.42 million), technology (436.07 million), SPAC (nil), financial services (168.89 million), property (225.92 million), plantations (77.09 million), REITs (49.07 million), closed/fund (51,800), energy (1.01 billion), healthcare (105.46 million), telecommunications and media (69.89 million), transportation and logistics (65.22 million), and utilities (69.71 million). – Bernama

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