KUALA LUMPUR: Blue chips took a breather on Friday as investors took some money off the table after a recent rally.
At 5pm, the FBM KLCI eased 13.72 points, or 0.84% to 1,615.69, its intraday low. The index opened 1.18 points firmer at 1,630.59 this morning.
On the broader market, gainers thumped losers 631 to 530, while 468 counters were unchanged. Turnover stood at 9.64 billion shares worth RM5.51bil.
Dealers said broader market sentiment remained strong and the U.S. stimulus and easing bond yields helped lift the mood.
According to data on Bursa Malaysia, foreign funds continued to be net buyers at RM72mil on Thursday. Local institutions sold RM137mil while retailers acquired RM65mil worth of equities on Bursa Malaysia.
Among the 30 component stocks, 19 counters closed lower while eight ended higher.
Gainers in the FBM KLCI component stocks were led by Petronas Dagangan, which added 32 sen to RM20.30, Petronas Gas rose 12 sen to RM15.82 and Petronas Chemicals climbed seven sen to RM8.27.
Banks and gloves are among the laggards on the index. Maybank fell 15 sen to RM8.40, Supermax declined 13 sen to RM4.08, CIMB shed 13 sen to RM4.47 and Top Glove eased 12 sen to RM5.20.
On the broader market, KESM fell 74 sen to RM12.60, Heineken declined 56 sen to RM26.24 and Sarawak Oil Palms shed 29 sen to RM4.01.
Dutch Lady jumped RM1.66 to RM36.50, MPI gained 78 sen to RM37.18 and Hong Leong Industries rose 53 sen to RM9.53.
Brent crude prices eased on Friday but hovered near US$70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support, Reuters reported.
US West Texas Intermediate (WTI) crude was down 46 cents at US$65.56 a barrel while Brent eased 30 cents to US$69.33 per barrel.
Among the key regional markets:
Japan’s Nikkei 225 added 1.73% at 29,717.83;
Hong Kong’s Hang Seng Index eased 2.2% to 28,739.72;
Shanghai Composite Index rose 0.5%to 3,453.08;
Taiwan’s Taiex added 0.47% to 16,255.18;
South Korea’s Kospi gained 1.35% to 3,054.39 and;
Singapore’s Straits Times Index eased 0.35% to 3,095.22 points.