KUALA LUMPUR: Bursa Malaysia ended the day on a flat note as mixed sentiment weighed on buying patterns, also weighed on by a fall in U.S. bond yields after the Federal Reserve hiked rates again.
The benchmark index FBM KLCI was down a negligible 0.08-of-a point at 1,798.64. The index opened 2.77 points higher at 1,795.95 this morning.
On the broader market, losers thumped gainers by 503 to 359 while 380 counters unchanged. Trading volume stood at 1.99 billion units worth RM2.05bil.
Dealers said the local bourse were traded sideways today with selling interspersing with buying in heavyweight stocks.
Shares of Axiata Group Bhd
were in focus today following Keppel Corp Ltd and Singapore Press Holdings Ltd offer to acquire its 28% owned M1 Ltd.
The telco, which shed sen to RM4.73, said it would review all options available in its response to speculation over whether it would accept a purchase offer for its 28.7% stake in M1 Ltd.
The offer to acquire Axiata’s stake in M1 by Keppel Corp Ltd and Singapore Press Holdings Ltd should reflect the accurate future value of the company while inclusive of an acceptable control premium, said Axiata in a statement.
The statement came following the announcement of a pre-conditional voluntary general offer of S$2.06 (RM6.25) per share by Konnectivity Pte Ltd, which is a joint venture between Keppel and SPH, for the remaining M1 shares they do not own.
Carlsberg, the top gainer on Bursa Malaysia rose 42 sen to RM19.60. Aeon Credit
added 32 sen to RM16.22 and British American Tobacco
gained 22 sen to RM32.22.
Among the top losers, Nestle shed 50 sen to RM146.30, MPI declined 34 sen to RM12.38 and Tasek fell 25 sen to RM6.25.
Elsewhere in the region, shares in Hong Kong closed lower after Hong Kong raised its base rate, prompting commercial banks to lift their benchmark rates for the first time in 12 years.
The Hang Seng index ended down 0.4% at 27,715.67, while the China Enterprises Index closed 0.4% weaker at 10,938.97 points.
In China, the blue-chip CSI300 index was 0.4% lower at 3,403.59, while the Shanghai Composite Index fell 0.5% to 2,791.77 points.
Reuters reported that Japan’s Nikkei 225 fell 1.0% to 23,796.74 in choppy trade, after flirting in positive territory in the morning while South Korea’s Kospi closed up 16.26 points or 0.70% at 2,355.43, extending gains to a third consecutive session.