KL shares close sharply lower
Bursa Malaysia closed sharply lower today on heavy foreign selling amid mixed regional stock markets, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) lost 40.81 points to 1,635.63 after hovering between 1,630.99 and 1,676.36 throughout the day.
Lee Cheng Hoi, Maybank Investment Bank's vice president, head of retail research, equity market, said the local sentiment was also affected by long holiday season ahead.
"The sentiment is expected to last until after the Chinese New Year Holiday in February," he told Bernama here today.
He said the local bourse's intra-day low was the worst among the regional stock markets today.
Affin Investment Bank head of retail research, Dr Nazri Khan, said the sharp downtrend was mainly due to correction as the market was in an overbought situation after the recent rally that pushed the FBM KLCI to the 1,690 level.
The Finance Index dipped 391.62 points to 14,933.95, Industrial Index fell 60.46 points to 2,730.26 and the Plantation Index declined 108.44 points to 7,985.78.
The FBM Emas Index erased 291.63 points to 11,119, FBMT100 dipped 281.94 points to 10,970.65, FBM Mid 70 Index shed 348.31 points to 12,086.61 and the FBM Ace Index was 135.11 points lower at 4,142.48.
Losers led gainers by 904 to 85 while 172 counters were unchanged, 495 untraded and 23 others suspended. Volume fell to 1.83 billion shares worth RM2.61 billion from 1.10 billion
shares worth RM1.566 billion last Friday.
Of the actives, Patimas Computers eased one sen to 12.5 sen, Krisassets Holdings shed 2.5 sen to 8.5 sen, The Media Shoppe was flat at 8.5 sen while Daya Materials earned one sen to 22.5 sen.
In heavyweights, Maybank slipped 14 sen to RM8.86 Sime Darby lost 17 sen to RM9.22 and Axiata and CIMB Group declined 34 each sen to RM6.30 and RM7.24, respectively.
Volume on the Main Market rose to 1.41 billion units worth RM2.57 billion from 886.831 million units worth RM1.546 billion last Friday.
Turnover on the ACE market strengthened to 250.33 million shares valued at RM29.51 million from 137.865 million shares valued at RM15.422 million last week.
Warrants increased to 166.03 million units worth RM8.57 million from 77.166 million units valued at RM4.498 million previously.
Consumer products accounted for 94.14 million shares on the Main Market, industrial products 245.26 million, construction 50.07 million, trade and services 513 million, technology 169.89 million, infrastructure 28.33 million, finance 89.32 million, hotels 661,000, properties 164.31 million, plantations 28.15 million, mining 474,200, REITs 24.33 million and closed/fund 344,900. -- Bernama
The FTSE Bursa Malaysia KLCI (FBM KLCI) lost 40.81 points to 1,635.63 after hovering between 1,630.99 and 1,676.36 throughout the day.
Lee Cheng Hoi, Maybank Investment Bank's vice president, head of retail research, equity market, said the local sentiment was also affected by long holiday season ahead.
"The sentiment is expected to last until after the Chinese New Year Holiday in February," he told Bernama here today.
Affin Investment Bank head of retail research, Dr Nazri Khan, said the sharp downtrend was mainly due to correction as the market was in an overbought situation after the recent rally that pushed the FBM KLCI to the 1,690 level.
The Finance Index dipped 391.62 points to 14,933.95, Industrial Index fell 60.46 points to 2,730.26 and the Plantation Index declined 108.44 points to 7,985.78.
The FBM Emas Index erased 291.63 points to 11,119, FBMT100 dipped 281.94 points to 10,970.65, FBM Mid 70 Index shed 348.31 points to 12,086.61 and the FBM Ace Index was 135.11 points lower at 4,142.48.
Losers led gainers by 904 to 85 while 172 counters were unchanged, 495 untraded and 23 others suspended. Volume fell to 1.83 billion shares worth RM2.61 billion from 1.10 billion
shares worth RM1.566 billion last Friday.
Of the actives, Patimas Computers eased one sen to 12.5 sen, Krisassets Holdings shed 2.5 sen to 8.5 sen, The Media Shoppe was flat at 8.5 sen while Daya Materials earned one sen to 22.5 sen.
In heavyweights, Maybank slipped 14 sen to RM8.86 Sime Darby lost 17 sen to RM9.22 and Axiata and CIMB Group declined 34 each sen to RM6.30 and RM7.24, respectively.
Volume on the Main Market rose to 1.41 billion units worth RM2.57 billion from 886.831 million units worth RM1.546 billion last Friday.
Turnover on the ACE market strengthened to 250.33 million shares valued at RM29.51 million from 137.865 million shares valued at RM15.422 million last week.
Warrants increased to 166.03 million units worth RM8.57 million from 77.166 million units valued at RM4.498 million previously.
Consumer products accounted for 94.14 million shares on the Main Market, industrial products 245.26 million, construction 50.07 million, trade and services 513 million, technology 169.89 million, infrastructure 28.33 million, finance 89.32 million, hotels 661,000, properties 164.31 million, plantations 28.15 million, mining 474,200, REITs 24.33 million and closed/fund 344,900. -- Bernama
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