No festive cheer for KLCI

  • Markets
  • Tuesday, 24 Dec 2019

KUALA LUMPUR: There is no Christmas cheer for Bursa Malaysia on Christmas eve as the benchmark index closed almost 10 points lower, dragged down by losses in heavyweights.

At closing, the 30-stock index was down 9.95 points, or 0.62% to 1,604.23. The benchmark index opened 0.35 of-a-point weaker at 1,613.83 this morning.

Declining stocks overwhelmed advancers by 414 to 303 while 432 counters closed unchanged. Turnover stood at 1.56 billion shares worth RM1.03bil. Bursa Malaysia will be closed tomorrow for Christmas Day. Trading will resume on Dec 26 (Thursday).

In today’s session, 19 of the KLCI-component stocks were traded lower while six counters advanced while five counters remained unchanged.

Dealers do not expect to see a significant pick-up in trading activity this week as most market participants were away for the Christmas and year-end holidays. They added that most institutional investors have wind down their positions ahead of the Christmas holiday.

Laggards in the KLCI component stocks were led by Tenaga Nasional Bhd (TNB), which dragged the index down by 2.211 points. Public Bank dragged the index down by 1.509 points, Petronas Chemicals (PetChem) nudged the index down by 1.131 points and MISC pulled the index down by 0.947 points.

TNB and Public Bank fell 22 sen each to RM13.32 and RM19.82 respectively. PetChem lost eight sen to RM7.37 and MISC declined 12 sen to RM8.43.

Among the top gainers at Bursa Malaysia, Petronas Gas, which added 30 sen to RM18, HEINEKEN MALAYSIA gained 20 sen to RM27.20 and Hong Leong Industries added 20 sen to RM10.40. The decliners included Nestle, United Plantations and PPB Group.

Meanwhile, oil prices rose ahead of the Christmas. Brent crude gained 18 cents to US$66.57 per barrel while US crude rose nine cents to US$ 60.61 per barrel.

Elsewhere in the region, Asian shares were a higher with Japan’s Nikkei 225 adding 0.04% to 23,830.58, the Shanghai Composite Index gained 0.67% to 2,982.68, South Korea’s Kospi shed 0.62% to 2,190.08 and the Hang Seng Index in Hong Kong was down 0.15% to 27,864.21.

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KLCI , Bursa Malaysia


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