[News] Bursa Malaysia ends lower for second day running

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. — Picture by Firdaus Latif

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. — Picture by Firdaus Latif

Monday, 20 Jun 2022 6:25 PM MYT

KUALA LUMPUR, June 20 — Bursa Malaysia finished lower for the second consecutive day today, with the benchmark composite index declining 1.06 per cent 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 billion from 3.06 billion units worth RM3.02 billion 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 six 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 4.0 sen and MNC Wireless was unchanged at 1.5 sen.

On the index board, the FBM Emas Index dipped 135.64 points to 10,262.23, FBM Emas Shariah Index declined 121.45 points to 10,405.04, FBM 70 slipped 250.55 points to 12,363.86, the FBMT 100 Index shrank 130.02 points to 10,006.99, while FBM ACE narrowed 96.42 points to 4,737.56.

Sector-wise, the Financial Services Index contracted 260.86 points to 16,044.98, the Plantation Index inched down 103.73 points to 7,114.50 and the Industrial Products and Services Index was 2.83 points lower at 183.48.

The Main Market volume fell to 1.43 billion shares worth RM1.28 billion from 2.21 billion shares worth RM2.83 billion on Friday.

Warrants turnover slid to 389.81 million units valued at RM88.63 million against 482.55 million units valued at RM95.77 million yesterday.

The ACE Market volume widened to 801.26 million shares worth RM320.01 million from 362.23 million shares worth RM93.03 million previously.

Consumer products and services counters accounted for 178.35 million shares traded on the Main Market, industrial products and services (417.67 million), construction (46.20 million), technology (244.90 million), SPAC (nil), financial services (52.39 million), property (76.33 million), plantation (32.89 million), REITs (6.11 million), closed/fund (21,000), energy (267.29 million), healthcare (51.75 million), telecommunications and media (15.49 million), transportation and logistics (27.78 million), and utilities (14.11 million). — Bernama

Source link