KUALA LUMPUR: Share prices on Bursa Malaysia closed lower in spite of advances in regional markets lifted by upbeat economic data from the US and China, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) lost 4.65 points to 1,676.44 after opening 1.70 points higher at 1,682.79.
Affin Investment Bank head of retail research, Nazri Khan, said the current market, now in an overbought position, could see more correction.
“The FBM KLCI has gone up by 109 points since November last year. Now is a good opportunity to buy with the coming Chinese New Year celebrations coming up.
“Consumer related stocks will be the beneficiary of the Chinese lunar celebrations,” he told Bernama.
The Finance Index slipped 32.489 points to 15,325.57 and the Industrial Index slipped 12.82 points to 2,790.72.
The Plantation Index gained 12.08 points to 8,094.22, but the FBM Emas Index slipped 23.29 points to 11,410.63, and the FBMT100 declined 23.95 points to 11,252.59.
The FBM Mid 70 Index increased 6.74 points to 12,434.92 but the FBM Ace Index fell 16.69 points to 4,277.59.
Losers led gainers by 362 to 299 while 346 counters were unchanged, 649 untraded and 23 others suspended.
Volume decreased to 1.102 billion shares worth RM1.566 billion from 1.445 billion shares worth RM1.813 billion yesterday.
Of the actives, Patimas Computers slipped half a sen to 13.5 sen, Krisassets Holdings eased 6.5 sen to 11 sen, INS Bioscience rose half a sen to 5.5 sen and Takaso Resources added half a sen to 24 sen.
Maybank slipped two sen to RM9, Sime Darby lost 13 sen to RM9.39, Axiata eased two sen to RM6.64 and CIMB Group fell three sen to RM7.58.
Volume on the Main Market decreased to 886.831 million shares worth RM1.546 million from 1.162 billion shares worth RM1.787 billion yesterday.
Turnover on the ACE Market decreased to 137.865 million shares worth RM15.422 million from 157.248 million shares worth RM19.014 million yesterday.
Warrants decreased to 77.166 million units worth RM4.498 million from 124.035 million units worth RM6.386 million yesterday.
Consumer products accounted for 70.01 million shares on the Main Market, industrial products 111.8 million, construction 30.3 million, trade and services 270.7 million, technology 169.7 million, infrastructure 10.3 million, finance 56.5 million, hotels 412,300, properties 129.8 million, plantations 28.5 million, mining 502,600, REITs 7.6 million and closed/fund 129,500.