Bursa bucks regional trend, ends morning session lower

TheEdge Tue, Apr 05, 2022 12:49pm - 1 year View Original


KUALA LUMPUR (April 5): Bursa Malaysia remained on a low note at midday, bucking the regional trend as profit-taking prevailed for selected heavyweights.

At 12.30pm on Tuesday (April 5), the benchmark FBM KLCI was 2.52 points lower at 1,596.40 from Monday's close at 1,598.92.

The barometer index opened 2.74 points better at 1,601.66, and moved between 1,594.75 and 1,601.68 throughout the morning trading session.

However, on the broader market, gainers surpassed losers 514 to 323, while 396 counters were unchanged, 1,004 untraded and 10 others suspended.

Total turnover stood at 2.14 billion worth RM1.09 billion.

A dealer noted that Bursa opened higher but retreated after a few minutes of trading, succumbing to selling pressure on selected heavyweights.

“The KLCI staged a pullback to trade below the 1,600 level on profit-taking on banking, healthcare, consumer and telecommunications stocks, while the lower liners are seen to be extending their lead," he said.

Regionally, key Asian markets were on an uptrend, taking their cue from Wall Street on tech stocks' solid gains and the potential for more sanctions against Russia.

Hong Kong's Hang Seng Index added 2.1% to 22,502.31, Japan's Nikkei 225 edged up 0.11% to 27,767.15 and Singapore’s Straits Times Index added 0.34% to 3,428.52, while South Korea’s KOSPI eased 0.09% to 2,755.54.

On the local front, Bursa heavyweights Malayan Banking Bhd (Maybank) fell seven sen to RM8.89, Public Bank Bhd and CIMB Group Holdings Bhd both shed two sen each to RM4.70 and RM5.28 respectively, IHH Healthcare Bhd slipped three sen to RM6.25, while Petronas Chemicals Group Bhd rose eight sen to RM9.78.

Of the actives, KNM Group Bhd and Metronic Global Bhd edged up half a sen each to 8.5 sen and 2.5 sen respectively, Dataprep Holdings Bhd gained four sen to 34 sen, while Techna-X Bhd and AT Systematization Bhd were flat at eight sen and two sen respectively.

On the index board, FBMT 100 edged up 0.65 of a point to 11,144.86, the FBM Emas Index added 6.56 points to 11,486.72, the FBM Emas Shariah Index advanced 38.87 points to 12,118.40, FBM 70 rose 74.55 points to 14,015.65 and FBM ACE bagged 47.02 points to 5,818.08.

Sector-wise, the Industrial Products and Services Index improved by 1.20 points to 208.61 and the Plantation Index surged 90.26 points to 8,170.58, while the Financial Services Index slipped 70.87 points to 16,751.20.

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