KUALA LUMPUR: What a week it has been for Bursa Malaysia as frenzied buying of penny stocks and heavy churning saw trading volume break fresh records several times.
At 5pm on Friday, trading volume surged to a dizzying 26.65 billion shares, which was unheard of and double the 13.12 billion units on Monday. Trading value on Friday was RM9.04bil.
The FBM KLCI closed lower on late selling pressure, falling 10.43 points or 0.66% to 1,578.14, due to Hartalega and Top Glove. This was in contrast with Thursday’s late buying which helped the KLCI close 20 points higher.
The broader market also turned weaker with 435 gainers, 794 losers and 316 counters unchanged as US-China tensions escalated, sparked by President Donald Trump’s latest threat and sent key Asian markets lower.
The Trump administration unveiled a plan to ban US transactions with ByteDance's TikTok and Tencent-owned WeChat, Reuters reported.
At Bursa, glove makers retreated on profit taking. Aventa fell RM1.05 to RM3.66, Supermax 86 sen to RM22.92, Careplus 82 sen to RM4.33, HLT 66 sen to RM2.52 and Comfort 65 sen to RM5.62.
Hartalega lost 66 sen to RM19.19 and wiped out 3.48 points while Top Glove fell 26 sen to RM18.14 and erased 1.08 points.
Consumer stocks came under profit taking also. Nestle was the top loser, down RM3 to RM140.10 and F&N 90 sen lower at RM32.08.
Among plantations, PPB Group was the top gainer, up 34 sen to RM19.24 but IOI Corp lost nine sen to RM4.43 and Sime Plantation six sen to RM5.05.
Among the banks, Public Bank fell 22 sen to RM16.76 and erased 1.31 points, Maybank two sen to RM7.50, Hong Leong Bank eight sen to RM14.70 and CIMB one sen to RM3.44.
Petronas Chemicals rose five sen to RM5.97 but Petronas Gas fell four sen to RM16.34.
HWGB jumped on the bandwagon to issue a statement on Thursday about its proposed venture in Covid-19 patents. This saw its share price surge 30 sen to RM1.20 and the warrants 30 sen also to 93 sen.
Oversea Enterprise hit limit-up, adding 30 sen to 61.5 sen after Anzo managing director Datuk Chai Woon Chet made an unconditional mandatory takeover offer.
Muda surge 29 sen to RM2.05, Inix 29 sen to 49 sen and its warrants 23 sen to 28 sen.
Borneo Oil was the most active up 2.5 sen to 7.5 sen with 2.72 billion shares. Other heavily traded stocks were Triven, Eduspec, Netx, PHB and XOX.
Niche Capital Emas rallied 17 sen to 40 sen with 522.59 million shares.
Reuters reported emerging market stocks fell on Friday while the Turkish lira hit a fresh record low in a new phase of high volatility trading.
China and Hong Kong shares led declines during Asia trade, while major European bourses opened weaker. The MSCI's index for emerging market stocks fell 0.9%, set to snap a three-day winning streak, with South African stocks retreating from a recent run of gains.
At the close, the Hang Seng index fell 1.6% to 24,531.62, while the China Enterprises Index lost 1.4% to 10,063.43.
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