BURSA Malaysia closed slightly lower on selling pressure in most sectors led by healthcare and financial services counters, in line with the weaker regional market performance.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.68 points or 0.17% easier at 1,604.61 compared with Friday’s close of 1,607.29.
The barometer index opened 0.66 of-a-point higher at 1,607.95 and moved between 1,603.22 and 1,613.46 throughout the day.
On the broader market, losers trounced gainers 774 to 317, while 356 counters were unchanged, 807 untraded, and 13 others suspended.
Total turnover increased to 4.40 billion units worth RM2.37 bil from 2.93 billion units worth RM1.85 bil on Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed marginally lower as investors took opportunity to take profit during the final hour of trading.
He said, regionally, key indices closed broadly lower following the mixed cues from Wall Street on Friday, amid lingering concerns about inflation and the prospect of aggressive rate hikes by central banks worldwide.
“Investors also remain worried about the likely economic impact of the ongoing war in Ukraine and the extended lockdown in Shanghai due to the worsening COVID-19 outbreak,” he told Bernama.
Back home, Thong believes the local market will remain well supported by the continuous foreign inflow despite some profit-taking today.
Meanwhile, investors should stay alert on the heightened local and regional market volatilities and external uncertainties.
“Hence, we expect the FBM KLCI to move in range-bound mode within the 1,595-1,615 range for the week. Technically, the immediate resistance is spotted at 1,625 and support at 1,580,” he added.
Hong Kong’s Hang Seng Index declined 3.03% to 21,208.30, Japan’s Nikkei 225 lost 0.61% to 26,821.52, South Korea’s Kospi inched down 0.27% to 2,693.10 and Singapore’s Straits Times Index weakened 0.58% to 3,363.56.
On the home front, heavyweights Maybank was flat at RM8.85, Public Bank lost 1 sen to RM4.67, Petronas Chemicals dropped 10 sen to RM10.20, IHH Healthcare slid 5 sen to RM6.40, and CIMB fell 2 sen to RM5.33.
Of the actives, Vizione rose half-a-sen to 8 sen, VSolar shed half-a-sen to 1 sen, Tanco dipped 8.5 sen to 39.5 sen, while Techna-X and MNC Wireless were flat at 9.5 sen and 3 sen, respectively.
