KUALA LUMPUR: Bursa Malaysia endured another sea of red on Thursday, with 750 counters ending lower as the FBM KLCI tumbled more than 20 points amid broad-based selling.
The FBM KLCI fell sharply by 20.81 points, or 1.26%, to 1,630.36. The benchmark index traded within a 19.77-point range, between an intraday high of 1,649.87 and a low of 1,630.10.
Market breadth was negative, with 750 decliners outpacing 342 gainers, while 495 counters were unchanged. This translated into a market breadth of more than two losers for every gainer, signalling that the bears maintained the upper hand. Turnover stood at 3.10 billion shares worth RM2.73bil.
Dealers said the decline reflected broad-based profit-taking and continued foreign selling, despite gains across several key regional markets.
“Market sentiment remains fragile, with investors taking a cautious stance amid persistent external uncertainties and a lack of domestic catalysts,” a dealer said.
The dealer said the FBM KLCI could remain volatile in the near term, with investors likely to monitor global bond yields, oil prices and developments in major overseas markets for direction.
Among the decliners, Kuala Lumpur Kepong fell 78 sen to RM21.42, Alliance Bank lost 62 sen to RM21, while United Plantations shed 60 sen to RM30.96.
F&N, Heineken Malaysia
and Hong Leong Industries fell 32 sen each to RM21.42, RM13.02 and RM16.14, respectively.
Among the gainers, Malaysian Pacific Industries rose 72 sen to RM41.12, Ayer Holdings gained 20 sen to RM7.70, while Riverview Rubber Estates added 12 sen to RM3.02. Dutch Lady advanced 10 sen to RM30, while Vitrox gained nine sen to RM10.
ACE Market debutant GB Bond was among the most actively traded counters, falling 4.5 sen, or 18%, to close at 20.5 sen, with 71.33 million shares changing hands.
Meanwhile, stock market data showed that foreign funds and retail investors were net sellers of local equities at RM228mil and RM8mil, respectively, while local institutions were net buyers at RM236mil.
Brent crude rose US$2.58, or 2.63%, to US$100.61 per barrel, while US West Texas Intermediate (WTI) crude gained US$2.38, or 2.63%, to US$92.80 a barrel.
On the external front, MSCI’s Asia ex-Japan stock index rose 0.29%.
Japan’s Nikkei 225 advanced 3.3% to 68,956.72, while South Korea’s Kospi closed 1.95% higher at 6,971.35.
Singapore’s Straits Times Index was 0.09% lower at 5,670.53, while Taiwan’s Taiex gained 0.86% to 48,353.49.
Markets in China and Hong Kong were closed for the National Day holiday. Hong Kong will reopen on Oct 2, while mainland Chinese markets will remain closed until Oct 8.
