KUALA LUMPUR: Bursa Malaysia pared earlier gains to close lower yesterday weighed down by losses in heavyweights led by IHH Healthcare and Petronas Chemicals, amid profit-taking in consumer stocks.
At 5pm, the 30-stock FBM KLCI index stood at 1,741.05, down 2.88 points or 0.17%, from yesterday’s close of 1,743.93 after opening 0.01 of-a-point higher at 1,743.94 this morning. The index moved between 1,747.17 and 1,739.80 throughout the day.
The broader market was weak with decliners outpacing advancers. There were 339 gainers, 518 losers and 372 counters unchanged on the Bursa Malaysia. Volume stood at 2.9 billion units worth RM2.08bil.
Analysts said market sentiment remains muted amid absence of fresh market leads. They added that attention were focused on who will become Fed chair when Janet Yellen’s terms expires in February. The White House plans to nominate current Fed Governor Jerome Powell.
On Bursa Malaysia, British America Tobacco was the top loser, falling 54 sen to RM37.70. Ajinomoto eased 42 sen to RM19.18 and Tasek closed 28 sen lower at RM12.62.
Laggards in the KLCI component stocks were led IHH Healthcare which dragged the index down by 1.119 points. IHH shares declined eight sen to RM5.56. PetChem draged the index down by 0.815 points while Tenaga Nasional Bhd
(TNB) pushed the index down by 0.768 points.
PetChem closed six sen lower at RM7.31 and TNB declined eight sen to RM14.90.
Among the banks, Maybank added five sen to RM9.25, Public Bank closed unchanged at RM20.44 while CIMB Group gained two sen to RM6.16.
Meanwhile, ringgit advances against the US dollar as the dollar comes under pressure amid reports that Federal Reserve Governor Jerome Powell will become the new chief.
The ringgit was quoted at 4.2303 against the greenback at 5pm.
Elsewhere in the region, Japan’s Nikkei share average extended its strong rally to top a new 21-year peak on Thursday. The Nikkei 225 ended up 0.5% at 22,539.12 after reaching a high of 22,540.25, its best close since late June 1996.
On the other hand, China stocks weakened on Thursday. The blue-chip CSI300 index was unchanged at 3,997.13 points, while the Shanghai Composite Index closed down 0.4% to 3,383.31 points.
Hong Kong stocks slipped, echoing nervousness in global markets. Hang Seng index closed 0.3% lower at 28,518.64.
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