KUALA LUMPUR, Nov 3 — Bursa Malaysia ended at an intraday low of 1,420.38 with selling pressure seen across the board amidst weak regional market sentiments, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 31.23 points or 2.15 per cent, compared to yesterday’s close of 1,451.61.
The benchmark index opened 3.29 points lower from its intraday high of 1,448.32.
On the broader market, losers thumped gainers 660 to 238, while 361 counters were unchanged, 1,066 untraded and nine others suspended.
Turnover was higher at 2.63 billion units valued at RM1.89 billion versus 2.49 billion units valued at RM1.78 billion yesterday.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the local bourse remained in the red throughout the day spooked by the hawkish remarks from the US Federal Reserve over the pace of future interest rate hikes as inflationary pressure persists.
He said the weakness was also largely in tandem with mostly negative performances across regional peers.
Back home, Bank Negara has delivered another 25 basis points rate hike to 2.75 per cent, which is largely in line with consensus expectations.
Moving forward, the focus will shift to the impending release of a barrage of corporate earnings as well as the upcoming 15th General Election (GE15).
“With the FBM KLCI slipping below the 1,430 support level, we reckon that downside risks remain prevalent with the next support located at 1,410 while resistance is at 1,465,” he told Bernama.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng predicts that the FBM KLCI would consolidate in the near term due to negative sentiment globally although bargain hunting may prevail.
“We anticipate the benchmark index to trend sideways within 1,415-1,430 towards the weekend,” he added.
On the local bourse, heavyweights Maybank lost 13 sen to RM8.41, Petronas Chemicals fell 15 sen to RM8.50, CIMB decreased 14 sen to RM5.35, Tenaga Nasional slipped 17 sen to RM8.23 and Public Bank went down 9.0 sen to RM4.36.
Among the actives, Top Glove slid 9.0 sen to 72 sen, and both Advance Synergy and Alam Maritim declined half-a-sen each to 6.5 sen and 1.5 sen respectively.
Citaglobal added 1.5 sen to 29 sen and Solution rose 2.0 sen to 32 sen.
On the index board, the FBM Emas Index dipped 193.92 points to 10,103.52, the FBM 70 slid 141.15 points to 12,059.70 and the FBMT 100 Index slipped 192.66 points to 9,838.19.
The FBM Emas Shariah Index declined 209.12 points to 10,158.55, while the FBM ACE trimmed 67.41 points to 4,886.43.
Sector-wise, the Financial Services Index sank 270.46 points to 16,055.64, the Industrial Products and Services Index edged down 2.56 points to 172.26, the Plantation Index shed 119.66 points to 6,717.03 and the Energy Index eased 2.29 points to 708.04.
The Main Market volume edged up to 1.84 billion shares worth RM1.63 billion from 1.66 billion shares worth RM1.52 billion yesterday.
Warrants turnover declined to 244.84 million units valued at RM49.21 million from 253.71 million units valued at RM48.42 million yesterday.
The ACE Market volume was slightly lower at 537.29 million shares worth RM209.44 million from 573.93 million shares worth RM212.18 million previously.
Consumer products and services counters accounted for 375.42 million shares traded on the Main Market, industrial products and services (423.83 million), construction (42.51 million), technology (96.52 million), SPAC (nil), financial services (81.20 million), property (252.67 million), plantation (27.17 million), REITs (4.83 million), closed/fund (39,100), energy (202.28 million), healthcare (265.56 million), telecommunications and media (20.82 million), transportation and logistics (40.21 million), and utilities (8.11 million). — Bernama