Trading volume and value on Bursa shrinks to two-week low

  • Business
  • Tuesday, 16 Apr 2019

The key FBM KLCI fell briefly below the crucial 1,600 level in afternoon trade on Monday on mounting selling pressure in line with the key Asian markets.

KUALA LUMPUR: Trading volume and value of stocks traded on Bursa Malaysia fell to the lowest since March 28 on Tuesday due to a general lacklustre interest.

At 5pm, the KLCI was down 1.87 points or 0.11% to 1,629.46 and year-to-date, the 30-stock index is down 3.62%, being the only index in the red among key Asian markets.

Turnover fell to a low of 2.49 billion shares while value tumbled to just RM1.79bil.

Key Asian markets were mostly higher, with Japan's Nikkei 225 up 0.24%, Hong Kong's Hang Seng Index rallied 1.07%, Shanghai Composite Index jumped 2.77% and South Korea's Kospi gained 0.26% and Singapore's STI added 0.19%.

The ringgit weakened by 0.55% against the US dollar to 4.1310. Bloomberg quoted Mizuho Bank Ltd as saying the ringgit’s decline was driven by concern that FTSE Russell may drop Malaysian bonds from its global index, with falling oil prices also weighing on the currency.

At Bursa, Maybank fell four sen to RM9.21 and erased 0.76 of a point, Hong Leong Bank lost two sen to RM20.08, CIMB and AmBank one sen lower at RM5.05 and RM4.46, RHB Bank was flat at RM5.75 while Public Bank edge dup two sen to RM22.60.

Crude palm oil for third month delivery rose RM11 to RM2,172 per tonne. IOI Corp lost five sen to RM4.48, KL Kepong was down eight sen to RM24.92 and PPB Group four sen to RM18.90 but Sime Plantation gained three sen to RM5.13.

MAHB fell 15 sen to RM6.75, Tenaga two sen to RM12.30, IHH one sen to RM5.57, but GentingM inched up one sen to RM3.08 and GENTING BHD five sen higher at RM6.74.

US light crude oil fell 16 cents to US$63.24 and Brent was down 25 cents to US$70.93.

Petronas Chemical gained five sen to RM8.95 and added 0.69 of a point to the index. Petronas Dagangan rose four sen to RM25.10 and Petronas Gas added two sen to RM17.70. Dialog lost three sen to RM3.14.

While Axiata managed to eke out a two sen gain to RM4.18, Maxis was flat at RM5.56 whileDigi shed three sen to RM4.69.
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