Malaysia’s stock exchange finishes lower with high-volatility

Bursa Malaysia extended its losses to open lower today following the global equities meltdown after Wall Street’s downward performance last Friday. Photo: FMT. Sketched by the Pan Pacific Agency.

KUALA LUMPUR, Sep 13, 2021, FMT. Bursa Malaysia’s key composite index finished 0.37% lower today, weighed down by selling in selected heavyweights led by Top Glove, Free Malaysia Today reported.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.84 points to 1,570.13 from Friday’s close of 1,575.97.

It opened 2.19 points easier at 1,573.78, which was also the day’s highest, and dropped as low as 1,562.11.

In the broader market, losers surpassed gainers 669 to 362, while 444 counters were unchanged, 783 untraded and 16 others suspended.

Turnover slipped to 4.01 billion units worth RM2.40 billion from 4.40 billion units worth RM2.75 billion on Friday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Malaysian equities ended lower due to weak market sentiment and lack of buying catalysts.

He said the FBM KLCI lost 0.37 per cent with heavy selling in glove and plantation counters.

“The index has lost about 30 points since hitting a high above 1,600 at end-August and we reckon it to be under more pressure in the short-term amid the heightened volatility amongst the regional markets.

“Therefore, we expect the benchmark index to consolidate further for the rest of the week with immediate support at 1,535 and resistance at 1,595,” he said.

Among the market heavyweights, Maybank increased one sen to RM8.30, while Public Bank and Petronas Chemicals added four sen each to RM4.06 and RM7.99, respectively.

Tenaga Nasional eased two sen to RM10.28 and Top Glove shrank 15 sen to RM3.28.

Of the actives, KNM decreased two sen to 28.0 sen, while Pasukhas Group and Avillion gained half-a-sen each to 11.5 sen and 15.5 sen, respectively.

Among the losers were Sungei Bagan Rubber which gave up 42 sen to RM3.49, Vitrox Corporation which slipped 34 sen to RM18.90, and KL Kepong which lost 14 sen to RM20.84.

On the index board, the FBM Emas Index erased 41.45 points to 11,481.36, the FBMT 100 Index was 39.63 points lower at 11,172.69, and the FBM Emas Shariah Index dropped 44.59 points to 12,569.61.

The FBM 70 gave up 45.49 points to 14,998.62 and the FBM ACE shed 35.99 points to 7,219.11.

The Main Market volume dropped to 2.41 billion shares worth RM2.05 billion from Friday’s 2.64 billion shares worth RM2.40 billion.

Warrants turnover fell to 378.50 million units valued at RM621.63 million compared to 379.11 million units valued at RM57.44 million previously.

Volume on the ACE Market contracted to 1.17 billion shares worth RM289.66 million from 1.32 billion shares worth RM286.80 million on Friday.

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