KUALA LUMPUR: The FBM KLCI declined 0.55% while the broader was mixed at close today (fEB 12) following the release of the country’s gross domestic product (GDP) performance, which showed that the economy expanded by 4.3% in 2019 from 4.7% in 2018.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.54 points to 1,542.94 from yesterday’s close of 1,551.48.
After opening 0.46 point lower at 1,551.02 this morning, the local index moved between 1,538.66 and 1,555.66 throughout the day.
On the broader market, gainers led losers 419 to 405, with 417 counters unchanged, 728 untraded and 24 others suspended.
Turnover increased to 2.81 billion shares worth RM2.77 bil from 2.76 billion shares worth RM2.25 bil yesterday.
After announcing Malaysia’s GDP today, Bank Negara Malaysia’s governor Datuk Nor Shamsiah Mohd Yunus also hinted at a possible rate cut, saying that there is ample room to adjust the overnight policy rate (OPR) to accommodate the challenges in the economy.
“We have ample room to cut the benchmark rate due to the low inflation rate in the country,” she told a press conference.
Just last month, BNM cut the OPR by 25 basis points to 2.75%, which is the lowest in nine years. It was last trimmed to three per cent from 3.25% in May last year.
The possible rate cut caused banking stocks on Bursa Malaysia to fall, with Hong Leong Financial down 22 sen to RM16.16, AMMB eased one sen to RM3.86, RHB Bank declined 11 sen to RM5.61 and Hong Leong Bank erased 70 sen to RM15.44.
As for other heavyweights, Maybank lost eight sen to RM8.46, Tenaga was flat at RM12.64, Public Bank shed 52 sen to RM17.78 and Petronas Chemicals was 14 sen lower at RM6.52.
Of the actives, MYEG eased one sen to RM1.32, while Securemetric and AirAsia fell three sen each to 15.5 sen and RM1.20.
Meanwhile, shares of TA Global Bhd and TA Enterprise Bhd were suspended from trading from 9 am until 5 pm today, pending a material announcement.
On the index board, the FBM Emas Index erased 27.45 points to 11,010.84, the FBMT 100 Index fell 31.55 points to 10,806.79 but the FBM Emas Shariah Index increased 38.25 points to 11,791.19.
The FBM 70 gained 75.54 points to 13,865.97 and the FBM Ace climbed 84.55 points to 5,629.46.
Sector-wise, the Industrial Products and Services Index inched down 0.55 points to 146.16, the Plantation Index slid 8.40 points to 7,313.01 and the Financial Services Index slipped 297.40 points to 14,615.63
Main Market volume expanded to 1.75 billion shares valued at RM2.48 bil from 1.70 billion shares valued at RM1.97 bil on Tuesday.
Warrants turnover increased to 421.32 million units worth RM58.50 mil from 385.75 million units worth RM55.03 million.
Volume on the ACE Market fell to 635.01 million shares valued at RM231.02 million from 676.04 million shares valued at RM229.88 mil previously.
Consumer products and services accounted for 406.90 million shares traded on the Main Market, industrial products and services (303.59 million), construction (102.52 million), technology (259.61 million), SPAC (nil), financial services (80.95 million), property (75.24 million), plantations (50.45 million), REITs (41.46 million), closed/fund (nil), energy (220.47 million), healthcare (61.25 million), telecommunications and media (36.06 million), transportation and logistics (95.80 million), and utilities (23.37 million). – Feb 12, 2020, Bernama.
