KUALA LUMPUR: Bursa Malaysia ended mixed on last-minute bargain-hunting after hitting a new four-year low in mid-afternoon on the back of the US-China trade conflict as well as market jitters ahead of the Budget 2020 announcement tomorrow, said a dealer.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.64 of-a-point to 1,551.87 compared with Wednesday’s close of 1,551.23.
The index, which opened 0.53 point weaker at 1,550.7, moved between 1,548.45 and 1,553.18 throughout the day.
The FBM KLCI sank to a four-year low of 1,548.45 at 2.50 pm, surpassing yesterday’s four-year low of 1,548.62. This was the lowest level since Aug 24, 2015, when the index hit 1,532.00.
Market breadth was negative as losers trumped gainers 384 to 339, with 828 counters unchanged, 460 untraded and 30 others suspended.
Turnover widened to 2.23 billion shares worth RM1.52 billion from 1.95 billion shares worth RM1.68 billion yesterday.
Malacca Securities Sdn Bhd said in a note that the lower liners and shares in the broader market were also pulling back from their recent gains as sentiments turned weaker, which the research firm expected to persist over the near term.
“Technology stocks that have seen strong near-term gains are likely to see more profit-taking moves amid the trickier market conditions,” he said.
Technically, Kenanga Research said the key support levels to watch out for were 1,550 (support level-1) and 1,510 (support level-2) while overhead resistance levels could be found at 1,630 (resistance level-1) and 1,650 (resistance level-2).
Among the heavyweights, Maybank, CIMB, Maxis and Axiata rose one sen each to RM8.39, RM4.86, RM5.45 and RM4.27, respectively, while PChem declined two sen to RM7.18. IHH was flat at RM5.67.
As for the actives, Netx Holdings, Sapura Energy, Bumi Armada and Sanichi were flat at 1.5 sen, 26 sen, 36.5 sen and five sen, respectively.
Meanwhile, Jaks Resources rose six sen to 91.5 sen while Priceworth declined half-a-sen to 5.5 sen.
The FBM Emas Index improved 9.7 points to 11,020.65, the FBMT 100 Index increased 9.65 points to 10,841.89 and the FBM Emas Shariah Index was 22.54 points stronger at 11,641.74.
The FBM 70 gained 33.73 points to 13,798.43 while the FBM ACE trimmed 5.85 points to 4,583.13.
Sector-wise, the Financial Services Index was up 26.94 points to 14,960.6 and the Plantation Index rose 3.89 points to 6,543.05 while the Industrial Products & Services Index was 0.22 of-a-point easier at 149.75.
Main Market volume decreased to 1.23 billion units worth RM1.37 billion from Wednesday’s 1.24 billion units worth RM1.53 billion.
Warrants turnover widened to 385.79 million units worth RM63.06 million from 383.78 million units worth RM74.47 million previously.
Volume on the ACE Market almost doubled to 614.16 million shares worth RM93.19 million from 317.54 million shares worth RM73.43 million on Wednesday.
Consumer products and services accounted for 176.92 million shares traded on the Main Market, industrial products and services (239.74 million), construction (159.43 million), technology (92.4 million), SPAC (nil), financial services (26.91 million), property (94.16 million), plantations (43.33 million), REITs (14.54 million), closed/fund (6,400), energy (263.45 million), healthcare (14.73 million), telecommunications and media (53.08 million), transportation and logistics (39.87 million), and utilities (15.94 million).
The physical price of gold as at 5pm stood at RM196.59 per gramme, up 25 sen from RM196.34 at 5pm yesterday. — Bernama