Bursa Malaysia lower due to external factors

by Jonathan Adams
Bursa Malaysia

The benchmark FTSE Bursa Malaysia KLCI erased 2.66 points to 1,623.53 from last Friday’s close of 1,626.19

Bursa Malaysia remained easier at mid-morning, trading cautiously due to external factors.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) erased 2.66 points to 1,623.53 from last Friday’s close of 1,626.19.

The index had opened 2.28 points higher at 1,628.47, but started to retreat thereafter.

On the broader market, losers thumped gainers 533 to 413, while 408 counters were unchanged, 883 untraded and 37 others suspended.

Total volume stood at 3.42 billion shares worth RM1.53 billion ($0.37 billion).

In a note today, Malacca Securities Sdn Bhd said the local bourse is expected to trade in a cautious mode with investors monitoring the status of the United States’ bond yield, as well as the emergence of geopolitical tensions after North Korea severed its diplomatic ties with Malaysia.

Among the heavyweights, Tenaga advanced 24 sen to RM10.80 ($2.63), PMetal gained 18 sen to RM10 ($2.43), SIMEPLT advanced four sen to 4.89, while Topglov and Dialog were three sen higher at RM5.44 ($1.32) and RM3.20 ($0.78), respectively.

Meanwhile, Maybank declined two sen to RM8.36 ($2.03), PChem shed eight sen to RM8.14 ($1.98), IHH lost 16 sen to RM5.32 ($1.29) and CIMB dropped six sen to RM4.52 ($1.10).

As for the active counters, Macpie advanced seven sen to 62.5 sen but its warrant declined one sen to 11 sen, while Ucrest added two sen to 24.5 sen.

Conversely, Widad dropped six sen to 50.5 sen, Dynacia erased half-a-sen to 14.5 sen and DNex fell 6.5 sen, at 88 sen.

On the index board, the FBM Emas Index shed 15.87 points to 11,907.34, the FBMT 100 fell 17.85 points to 11,583.73, and the FBM Emas Shariah dropped 3.97 points to 13,225.92.

The FBM 70 fell 19.78 points to 15,669.56 while the FBM ACE advanced 110.56 points to 10,745.43.

Sector-wise, the Financial Services Index dropped 32.85 points to 15,476.80, the Plantation Index edged up 11.19 points to 7,186.81 and the Industrial Products and Services Index earned 0.18 of-a-point to 193.31.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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