KUALA LUMPUR: Bursa Malaysia ended slightly lower today on continued selling in selected heavyweights led by Top Glove and Press Metal
, despite the upbeat performance in regional markets.
The two counters contributed a combined 1.44 points to the decline in the barometer index, dealers said.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 1.31 points or 0.09 per cent to end at 1,492.59 compared with 1,493.90 at Monday’s close.
The index opened 1.10 points weaker at 1,492.80 and fluctuated between 1,490.01 and 1,496.24 throughout the day.
On the broader market, losers thumped gainers 450 to 354, while 432 counters were unchanged, 1,064 untraded, and 16 others suspended.
Turnover eased to 2.45 billion units valued at RM1.67 billion from Monday’s 2.47 billion units worth RM1.73
A dealer said, regionally, most Asian bourses were higher due to bargain hunting following the recent market weakness.
However, he said investors remained concerned over the pace of the economic recovery from the pandemic amid fears of fresh disruptions across supply chains globally following tighter restrictions in Europe.
Japan's Nikkei 225 rose 2.08 per cent to 28,517.59, Hong Kong’s Hang Seng Index gained 1.00 per cent to 22,971.33, Singapore’s Straits Times Index climbed 0.40 per cent to 3,085.18, and South Korea’s Kospi added 0.41 per cent to 2,975.03.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said, on the home front, the FBM KLCI remained in negative territory as selling pressure continued amid fears of Omicron variant while investors were wary of heavy losses incurred by businesses due to the recent flooding.
"Key regional markets trended mostly higher as China/Hong Kong markets cheered Beijing's move to help troubled property firms. As for Japanese stock market, investors are looking to pick up stocks at a bargain following the recent weakness.
"On the domestic front, investors remain cautious due to lack of buying interest amid the heightened market volatility across the region. We believe the benchmark index will remain in consolidation mode although bargain hunting and window dressing activities may emerge as well,” he told Bernama today.
As such, he said the FBM KLCI is expected to remain range-bound at around the 1,485-1,500 range for the remaining of the week, with immediate resistance at 1,500 and support at 1,475.
Among the heavyweights, Maybank rose 3.0 sen to RM8.14, Public Bank and Petronas Chemicals improved 1.0 sen each to RM4.08 and RM8.79, respectively, CIMB increased 4.0 sen to RM5.33, while IHH Healthcare was flat at RM6.53.
Of the actives, Main Market debutant Swift Haulage declined 7.0 sen to 96 sen, while Lambo Group, DGB Asia and Saudee Group were all flat at 4.5 sen, 3.0 sen and 6.0 sen, respectively. - Bernama
, despite the upbeat performance in regional markets.The two counters contributed a combined 1.44 points to the decline in the barometer index, dealers said.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 1.31 points or 0.09 per cent to end at 1,492.59 compared with 1,493.90 at Monday’s close.
The index opened 1.10 points weaker at 1,492.80 and fluctuated between 1,490.01 and 1,496.24 throughout the day.
On the broader market, losers thumped gainers 450 to 354, while 432 counters were unchanged, 1,064 untraded, and 16 others suspended.
Turnover eased to 2.45 billion units valued at RM1.67 billion from Monday’s 2.47 billion units worth RM1.73
A dealer said, regionally, most Asian bourses were higher due to bargain hunting following the recent market weakness.
However, he said investors remained concerned over the pace of the economic recovery from the pandemic amid fears of fresh disruptions across supply chains globally following tighter restrictions in Europe.
Japan's Nikkei 225 rose 2.08 per cent to 28,517.59, Hong Kong’s Hang Seng Index gained 1.00 per cent to 22,971.33, Singapore’s Straits Times Index climbed 0.40 per cent to 3,085.18, and South Korea’s Kospi added 0.41 per cent to 2,975.03.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said, on the home front, the FBM KLCI remained in negative territory as selling pressure continued amid fears of Omicron variant while investors were wary of heavy losses incurred by businesses due to the recent flooding.
"Key regional markets trended mostly higher as China/Hong Kong markets cheered Beijing's move to help troubled property firms. As for Japanese stock market, investors are looking to pick up stocks at a bargain following the recent weakness.
"On the domestic front, investors remain cautious due to lack of buying interest amid the heightened market volatility across the region. We believe the benchmark index will remain in consolidation mode although bargain hunting and window dressing activities may emerge as well,” he told Bernama today.
As such, he said the FBM KLCI is expected to remain range-bound at around the 1,485-1,500 range for the remaining of the week, with immediate resistance at 1,500 and support at 1,475.
Among the heavyweights, Maybank rose 3.0 sen to RM8.14, Public Bank and Petronas Chemicals improved 1.0 sen each to RM4.08 and RM8.79, respectively, CIMB increased 4.0 sen to RM5.33, while IHH Healthcare was flat at RM6.53.
Of the actives, Main Market debutant Swift Haulage declined 7.0 sen to 96 sen, while Lambo Group
, DGB Asia and Saudee Group were all flat at 4.5 sen, 3.0 sen and 6.0 sen, respectively. - Bernama
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