BURSA Malaysia finished lower for the second consecutive day today, with the benchmark composite index declining 1.06% due to heavy selling pressure, particularly in energy, technology and plantation stocks, a dealer said.
At 5pm, the barometer index fell 15.50 points to 1,441.24 from Friday’s close of 1,456.74.
The benchmark index, which opened 2.34 points lower at 1,454.40, moved between 1,437.23 and 1,454.40 throughout the day.
On the broader market, losers trumped gainers 747 to 200, while 351 counters were unchanged, 986 untraded and 18 others suspended.
Total turnover depreciated to 2.62 billion units worth RM1.69 bil from 3.06 billion units worth RM3.02 bil on Friday.
Regionally, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key indices ended mixed as investors were concerned about the possibility of recession due to tightening monetary policies from the major central banks.
“On the domestic front, the local market is seeing heavy selling pressure by foreign funds,” he said.
He added that Rakuten Trade anticipates the FBM KLCI to trend within a wider range of 1,435-1,465 for the week with immediate support at 1,435 with resistance at 1,490 in view of the greater volatility.
Bursa heavyweights Maybank slid 23 sen to RM8.65, MISC Bhd fell 21 sen to RM7.18, Press Metal Aluminium shed 11 sen to RM4.59, TNB declined 17 sen to RM8.13 and Public Bank lost 6 sen to RM4.43.
Of the actives, SFP Tech gained 37 sen to 67 sen, Cypark Resources added three sen to 37 sen, while Dagang NeXchange inched down 4.5 sen to 76.5 sen, Sapura Energy decreased half-a-sen to 4 sen and MNC Wireless was unchanged at 1.5 sen. – June 20, 2022
