KUALA LUMPUR: Bursa Malaysia ended lower today, with the benchmark index 1.55% lower, as weak regional sentiment continued to cloud the local market, especially after circuit breakers were set off in multiple Asian markets.
At the close, the FTSE Bursa Malaysia (FBM KLCI) fell 19.29 points to 1,219.72 from yesterday’s close of 1,239.01. The last time the FBM KLCI touched this level was in 2009.
After opening 11.30 points easier at 1,227.71 this morning, the benchmark index moved between 1,207.80 and 1,242.82 throughout the day.
Turnover increased to 4.16 billion shares worth RM2.86 bil from 3.48 billion shares worth RM2.88 bil yesterday.
Trading halts were triggered from Manila and Jakarta to Seoul and Karachi as worries over a potential global recession grip investors, despite efforts from global central banks and governments to stem a public health crisis by taking unprecedented measures.
In a note, Malacca Securities Sdn Bhd said amid the rising risk of recession, the downtrend on the FBM KLCI might linger for the time being.
“With market conditions likely to remain dour, we reckon the FBM KLCI will continue its downward momentum towards the 1,200 support level or even towards the 1,160 level.
“A recovery, which we see little sunshine may bring mild gains, capped at the 1,250 level,” it added.
Among heavyweights, Maybank lost 18 sen to RM7.08, Tenaga declined 10 sen to RM11.32, Public Bank fell 36 sen to RM12.66, and IHH was 35 sen higher at RM5.15.
Of the actives, Sapura Energy eased one sen to 6.5 sen, Velesto fell 1.5 sen to 9.5 sen and Bumi Armada inched down half-a-sen to 11.5 sen.
On the index board, the FBM Emas Index decreased 216.46 points to 8,257.78, the FBM 70 erased 523.72 points to 9,194.26 and the FBM Emas Shariah Index gave up 151.79 points to 9,120.49.
The FBMT 100 Index contracted 200.18 points to 8,214.63 and the FBM Ace lowered 229.68 points to 3,199.73.
Sector-wise, the Industrial Products and Services Index declined 5.69 points to 92.52, the Plantation Index slashed 58.32 points to 5,532.03 and the Financial Services Index was 464.03 points weaker at 10,885.45.
Main Market volume increased to 3.16 billion shares worth RM2.68 bil from 2.68 billion shares worth RM2.72 bil yesterday.
Warrants turnover rose to 336.67 million units worth RM89.22 mil from 323.73 million units worth RM73.58 mil.
Volume on the ACE Market was higher at 660.22 million shares worth RM93.02 mil from 482.71 million shares worth RM85.55 mil.
Consumer products and services accounted for 482.24 million shares traded on the Main Market, industrial products and services (410.82 million), construction (325.22 million), technology (418.71 million), SPAC (nil), financial services (129.42 million), property (243.45 million), plantations (64.86 million), REITs (50.03 million), closed/fund (176,700), energy (716.21 million), healthcare (64.46 million), telecommunications and media (52.47 million), transportation and logistics (147.40 million), and utilities (57.01 million). – March 19, 2020, Bernama
