Bursa Malaysia ends lower in line with regional retreat

KUALA LUMPUR: Bursa Malaysia ended the day lower in line with the performance of its regional peers.

The FBM KLCI ended down 5.2 points, or 0.34% to 1,521.86.

The broader market displayed its weakness as profit-takers triumphed over bargain-hunters. There were 595 gainers, 335 losers and 385 counters traded unchanged on the Bursa Malaysia.

About 2.83 billion shares, valued at RM1.88bil, changed hands.

Dealers said the local bourse tracked the performance of key Asian markets, amid the lack of market moving factors.

South Korea’s Kospi fell 1.49%, to close at 2,792.00 while Japan’s Nikkei 225 added 0.24% to 27,588.37.

Hong Kong’s Hang Seng index closed down 1.2%, to 24,656.46.

China’s CSI300 index rose 0.2% to end at 4,786.74, while the Shanghai Composite Index gained 0.04% to 3,524.11.

In today's session, 15 of the KLCI-component stocks closed lower while 12 ended higher.

Nestle rose 80 sen to RM133, Hong Leong Financial Group added 22 sen to RM18.48, Kuala Lumpur Kepong rose 14 sen to RM21.50 and Telekom Malaysia gained seven sen to RM5.15.

Hartalega fell 22 sen to RM5.53, IHH Healthcare eased 10 sen to RM6.47 and Top Glove declined nine sen to RM2.08.

Maybank eased three sen to RM8.25. Maybank stated vehemently that the allegations that it will face major financial trouble owing to exposure to Genting Hong Kong are baseless, Bernama reported.

On the broader market, MPI jumped RM1.48 to RM39.50, PMB Technology rose 70 sen to RM13.30 and UWC gained 19 sen to RM4.54.