Bursa Malaysia ends mixed

Bursa Malaysia (Bernama pic)

KUALA LUMPUR: Bursa Malaysia ended on a mixed tone today, as most investors remained on the sidelines ahead of the 2019 Budget tabling this Friday, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally higher at 1,683.73, up 0.67 of-a-point, from last Friday’s close of 1,683.06.

The index opened 0.51 of-a-point easier at 1,682.55 and moved between 1,680.59 and 1,686.83 throughout the day.

Market breadth was negative, with losers outpacing gainers 588 to 223, while 349 were unchanged, 740 untraded and 91 others suspended.

Volume rose slightly to 1.84 billion units worth RM1.42 billion from 1.82 billion units valued at RM1.68 billion last Friday.

Bank Islam Chief Economist Dr Mohd Afzanizam Abdul Rashid reckoned traders were holding off their trading positions as Malaysia is awaiting its economic highlight of the year with the tabling of the 2019 Budget this Friday.

“Externally, the Purchasing Managers’ Index (PMI) indices will be closely watched, especially in China where consensus is anticipating the manufacturing PMI to come down slightly to 50.6 points in October from 50.8 points in September,” he told Bernama.

Meanwhile, Mohd Afzanizam said in the United States, the Nonfarm Payroll data, slated for release on Friday, is estimated to rise to 193,000 in October from 134,000 in September.

“This would reinvigorate the view that the US Federal Reserve will continue to raise the rate in December as labour market is likely to be healthy,” said Mohd Afzanizam.

Of the heavyweights, Maybank eased 17 sen to RM9.27, Public Bank declined four sen to RM24.58, Tenaga improved six sen to RM14.10, Petronas Chemicals inched up two sen to RM9.31, while CIMB and Hong Leong were unchanged at RM5.60 and RM20.68, respectively.

Among actives, Seacera rose five sen to 20.5 sen, Tatt Giap went up one sen to 17.5 sen, while My E.G Services decreased nine sen to RM1.13, Hibiscus Petroleum eased five sen to RM1.01, and Datasonic lost eight sen to 30.5 sen.

The FBM Emas Index shed 36.05 points to 11,555.06, the FBM Emas Shariah Index reduced 19.72 points to 11,525.65 and the FBM Ace Index was 62.71 points weaker at 4,712.34.

The FBMT 100 Index slipped 28.00 points to 11,419.22 and the FBM 70 fell 159.51 points to 13,131.23.

Sector-wise, the Plantation Index declined 42.12 points to 7,282.22, the Financial Services slid 112.53 points to 17,032.33 and the Industrial Product and Services shed 0.37 of-a-point to 167.97.

Main Market volume rose to 1.23 billion shares worth RM1.29 billion from 1.21 billion shares worth RM1.55 billion recorded last Friday.

Warrants turnover dropped to 348.7 million units valued at RM85.66 million from 368.2 million units valued at RM90.04 million transacted previously.

Volume on the ACE Market increased to 259.33 million shares worth RM43.19 million from 238.03 million shares worth RM43.89 million registered last Friday.

Consumer products and services accounted for 106.42 million shares traded on the Main Market, industrial products and services (365.51 million), construction (103.59 million), technology (271.5 million), SPAC (14,000), financial services (20.42 million), property (57.86 million), plantations (13.57 million), REITs (11.49 million), closed/fund (46,900), energy (198.64 million), healthcare (20.96 million), telecommunication and media (30.38 million), transportation and logistics (18.99 million) and utilities (19.80 million).