Bursa Malaysia snapped a three-day winning streak to end lower today on profit-taking in selected plantation counters despite the positive sentiment in regional bourses, a dealer said.
Sime Darby Plantation lost 7 sen to RM4.98, Kuala Lumpur Kepong fell 36 sen to RM25.80 and IOI Corp slid 3 sen to RM4.23, all contributing a total of 1.82 points to the loss in the composite index.
At 5pm, the benchmark index declined 3.74 points, or 0.24%, to 1,543.02 from Friday’s close of 1,546.76, after moving between 1,540.56 and 1,547.02 throughout the day.
The index opened 0.41 of-a-point lower at 1,546.35.
Market breadth was also negative with losers outpacing gainers 497 to 412, while 419 counters were unchanged, 973 untraded, and 64 others suspended.
Total turnover increased to 3.05 billion units worth RM1.82 bil from 2.78 billion units worth RM2.01 bil last Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended lower after a lacklustre trading session despite the positive performance across the region.
Meanwhile, key regional indices trended higher following the broadly positive cues from Wall Street on Friday.
As for the local bourse, he said investors seemed reluctant to take more significant positions due to the absence of buying catalysts while awaiting corporate results.
“We reckon that investor sentiment will remain jittery although bargain hunting may prevail, hence, we expect the FBM KLCI to move sideways, hovering at the 1,535-1,555 range for the week,” he told Bernama.
Regionally, the Singapore’s Straits Times Index added 0.26% to 3,238.92, Japan’s Nikkei 225 gained 2.19% to 27,369.43, Hong Kong’s Hang Seng rose 2.06% to 21,123.93, South Korea’s KOSPI increased 1.20% to 2,669.66, and China’s SSE Composite Index gained 0.60 per cent to 3,149.06.
Back home, heavyweights Maybank fell 1 sen to RM8.98, Public Bank dropped 3 sen to RM4.59, IHH Healthcare slid 5 sen to RM6.55, Petronas Chemicals added 2 sen to RM10, while Tenaga Nasional was flat at RM9.25.
Of the actives, G3 Global decreased 1.5 sen to 5.5 sen, Dagang NeXchange slipped 2.0 sen to 99 sen, both Green Packet and MNC Wireless flat at 8.0 sen and 1.5 sen, respectively, while Sapura Energy added half-a-sen to 8.5 sen.
On the index board, the FBM ACE climbed 49.47 points to 5,196.17, and the FBM 70 put on 15.54 points to 13,114.10, while the FBM Emas Shariah Index went down 6.62 points to 11,385.27, the FBM Emas Index declined 19.95 points to 10,991.17, and the FBMT 100 Index shed 16.97 points to 10,690.70.
Sector-wise, the Industrial Products and Services Index was 0.34 of-a-point higher at 199.75, while the Plantation Index dipped 66.95 points to 7,942.77, and the Financial Services Index slid 42.81 points to 16,601.60. – May 30, 2022
