KUALA LUMPUR: Bursa Malaysia ended lower for the fourth consecutive day, primarily because of profit-taking actions within the development, telecommunications, utilities and vitality sectors, stated an analyst.
UOB Kay Hian Wealth Advisors, head of funding analysis Sedek Jantan stated the slide within the native bourse was additional compounded by the closure of the US inventory markets because of the Juneteenth vacation.
“The market is prone to proceed buying and selling sideways to lower till constructive catalysts emerge to raise the native market from the present profit-taking development.
“The in a single day Wall Street buying and selling can also affect tomorrow’s buying and selling as many expertise shares within the US have reached all-time highs,” he stated.
However, Sedek stated additional weak point in blue chip shares could entice discount hunters.
“One potential catalyst is the event of 5G expertise.
“As tomorrow marks the deadline for 5 telecommunications corporations to finalise the share subscription settlement for a mixed 70% stake in Digital Nasional Bhd, the progress of the 5G plan will turn out to be clearer, probably benefitting the telecommunications sector,” he advised eNM.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.44% or 7.1 factors simpler at 1,592.69 from yesterday’s shut of 1,599.79.
The benchmark index opened 3.52 factors lower at 1,596.27, its intraday excessive, and hit a low of 1,590.37 within the early morning session.
On the broader market, decliners trounced gainers 816 to 352, with 447 counters unchanged, 797 untraded, and 17 others suspended.
Turnover fell to five.03 billion models value RM3.42 billion from yesterday’s 5.57 billion models valued at RM4.06 billion.
On the native bourse, heavyweights YTL Corporation and Axiata dipped seven sen every to RM3.51 and RM2.65 respectively, AmBank shed one sen to RM4.18, CIMB slid 5 sen to RM6.74, and Sime Darby was seven sen lower at RM2.53.
Of probably the most energetic counters, Ingenieur Gudang and Jaks Resources trimmed 0.5 sen every to six.5 sen and 18.5 sen respectively, VS Industry gained 5 sen to RM1.20, KTI rose three sen to 31.5 sen, and Cabnet surged 13.5 sen to 51.5 sen.
Hong Leong Industries led the highest losers checklist, falling 20 sen to RM11.10, Ajinomoto and AEON Credit shed 18 sen every to RM15.50 and RM7.55 respectively, Sunway Construction slid 16 sen to RM3.79, and Panasonic Manufacturing slipped 14 sen to RM20.12.
On the index board, the FBM Emas Index eased 48.69 factors to 12,243.35, the FBMT 100 Index gave up 45.82 factors to 11,821.68 and the FBM Emas Shariah Index slid 45.43 factors to 12,589.44.
The FBM 70 Index decreased 41.68 factors to 17,889.4 and the FBM ACE Index tumbled 42.16 factors to five,754.04.
Sector-wise, the monetary companies index sank 57.65 factors to 17,419.4, the economic services index eased 0.02 of-a-point to 197.47, and the vitality index trimmed 9.97 factors to 973.41.
The plantation index nonetheless rose 4.18 factors to 7,007.98.
The Main Market quantity dwindled to 2.9 billion models valued at RM2.92 billion from 3.31 billion models value RM3.52 billion yesterday.
Warrants turnover superior to 1.21 billion models value RM176.73 million in contrast with 1.19 billion models valued at RM162.56 million yesterday.
The ACE Market quantity declined to 992.85 million shares valued at RM320.64 million in opposition to 1.05 billion shares value RM377.5 million beforehand.
Consumer services counters accounted for 466.53 million shares traded on the Main Market, industrial services (820.09 million), development (332.08 million), expertise (324.55 million), SPAC (nil), monetary companies (102.52 million), property (327.99 million), plantation (18.88 million), REITs (15.98 million), closed/fund (10,700), vitality (182.2 million), healthcare (69.91 million), telecommunications and media (50.72 million), transportation and logistics (119.34 million), utilities (68.43 million), and enterprise trusts (4.09 million).
