Business

Bursa Malaysia eases on lack of follow-up support

KUALA LUMPUR, April 25 — Bursa Malaysia closed lower today on lack of follow-up support amid unfavourable external sentiment to sustain yesterday’s upside momentum, dealers said.

Traders work on the floor of the Kuala Lumpur Stock Exchange. — Reuters picTraders work on the floor of the Kuala Lumpur Stock Exchange. — Reuters picThe FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.01 points to close at 1,706.34 points.

The market barometer hovered between 1,700.25 and 1,709.64. Mercury Securities head of research, Edmund Tham, said trading was thin throughout the day with just over 700 million shares traded.

"A lot of people stayed on the sidelines to await fresh leads," he told Bernama today.

He said the trend was expected to continue for at least until next week, before the general election on May 5.

Overnight, the Dow Jones Industrial Average lost 0.3 per cent, while the Nasdaq and the S&P 500 were near neutral.

On the local front, volume rose slightly to 746.76 million shares worth RM1.82 billion from yesterday’s 734.40 million shares worth RM1.37 billion.

The Finance Index fell 73.061 points to 15,928.88, Industrial Index eased 8.9 points to 2,832.61 and the Plantation Index weakened 39.13 points to 8,114.02.

The FBM Emas Index lost 2.42 points to 11,648.39 and the FBM Ace Index slipped 1.4 points to 3,970.02.

The FBMT100 Index climbed 0.16 point to 11,486.81 and the FBM Mid 70 Index edged up 29.199 points to 12,864.93.

Losers led gainers by 329 to 299, with 322 counters unchanged, 661 untraded and 30 others suspended.

Among actives, Sapurakencana lost five sen to RM3.02, CIMB dropped one sen to RM7.72 and MNC Wireless slipped half-a-sen to 24 sen.

Maybank added 14 sen to RM9.55 and Iris gained half-a-sen to 16.5 sen.

Of the heavyweights, Axiata and Petronas Gas added six sen each to RM6.80 and RM19.46 respectively and Sime Darby earned two sen to RM9.40.

Petronas Chemicals and Tenaga lost three sen each to RM6.47 and RM7.82 respectively.

Volume on the Main Market rose to 621.26 million shares worth RM1.79 million from 536.81 million shares worth RM1.33 billion yesterday.

Turnover on the ACE market fell to 93.23 million units valued at RM18.81 million from 178.25 million units valued at RM31.82 million yesterday.

Warrants increased to 29.49 million shares worth RM2.85 million from 18.47 million shares worth RM1.98 million previously.

Consumer products accounted for 39.82 million shares on the Main Market, industrial products 114.86 million, construction 27.15 million, trade and services 207.19 million, technology 28.12 million, infrastructure 25.30 million, SPAC 9.88 million, finance 78.84 million, hotels 398,400, properties 67.01 million, plantations 11.55 million, mining 63,000, REITs 11.03 million and closed/fund 7,600. — Bernama

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