KLCI falls 7.76 points to close at intra-day low

KUALA LUMPUR: Bursa Malaysia ended the day at an intra-day low on broad-based profit-taking activities.

At 5pm, the benchmark FBM KLCI ended 7.76 points, or 0.51% to 1,503.90, its intra-day low. It opened 1.09 points higher at 1,512.75 this morning.

Market breadth was negative with losers outpacing gainers 611 to 412, while 432 counters were unchanged. Turnover stood at 5.15 billion shares worth RM3.59bil.

Dealers said investors opted to stay at the sidelines amid the lack of fresh catalysts and weakness in crude oil prices.

Reuters reported that oil prices dropped on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new U.S. stimulus package that lawmakers are struggling to agree.

U.S. West Texas Intermediate (WTI) crude dropped 33 cents to US$40.27 per barrel while Brent shed 30 cents to US$42.13 a barrel.

On Bursa Malaysia, PPB lost 64 sen to RM18.82, SCGM fell 48 sen to RM3.11, Hartalega shed 42 sen to RM17 and Kossan declined 36 sen to RM13.90.

Top Glove contributed the most to the index decline. The glovemaker shed 30 sen to RM8.47, dragging the index down by 3.7702 points.

Hartalega pushed the index lower by 2.2115 points while PPB nudged the index lower by 1.3987 points.

Among the banks, Maybank added six sen to RM7.16, Public Bank rose 16 sen to RM15.58, CIMB gained two sen to RM3.09 and Hong Leong Bank advanced four sen to RM15.

Around the region, China’s CSI300 index rose 0.2% to 4,591.80, while the Shanghai Composite Index gained 0.21% to 3,224.36 points.

South Korea’s Kospi closed up 19.81 points, or 0.86%, to 2,327.89 while Hong Kong’s Hang Seng Index fell 200.52 points, or 0.85% to 23,275.53.

Japanese shares closed at a seven-month high on Tuesday, Reuters reported. The Nikkei 225 Index erased early losses and ended 0.12% higher at 23,539.10, the highest since Feb. 20.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

KLCI , Bursa Malaysia , WTI , Brent


Did you find this article insightful?


80% readers found this article insightful

Next In Business News

Tesla FOMO fires up Wall Street’s $300b custom-index boom
At-home shoppers drive record online sales
BoE's Haldane sees inflation risks as economies bounce back
Windfall tax on glove makers will send wrong signal to investors: Zafrul
Facebook’s AI mistakenly bans ads for struggling businesses
CPO futures to trade in yo-yo mode next week
More than just painting the town red
Jobs in the new normal
GLOBAL LNG-Asian spot prices rise on oil surge and heating demand
Airbus re-sells six unwanted jets built for AirAsia

Stories You'll Enjoy