By BERNAMA
Share prices on Bursa Malaysia closed lower today on declining oil prices and worries over slowing growth in China, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 10.39 points lower at 1,618.83 against Tuesday’s close of 1,629.22 points.
The index opened easier at 1,628.16 points and fluctuated between 1,618.32 and 1,628.65 throughout the day in cautious trading.
Market breadth was negative with losers overwhelming gainers 830 to 168, while 259 counters were unchanged, 494 untraded and 12 suspended.
Total volume rose to 2.35 billion shares, worth RM2.1 billion, from Tuesday’s 2.2 billion shares, valued at RM1.77 billion.
Crude oil prices slumped to a fresh 12-year low at US$28 per barrel today, while China’s economic growth in 2015, the slowest in 25 years, dampened investor sentiment.
“Despite near-term external volatilities, the local market remains cautiously optimistic, thanks to the potential deployment of ValueCap funds, progress of 1Malaysia Development Bhd’s restructuring and resilience in Malaysia’s economic fundamentals,” Hong Leong Investment Bank said.
Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said the local market had not been bullish for quite some time, particularly the small- and mid-cap stocks which are immune to economic slowdown.
Regionally, Japan’s Nikkei decreased 3.71% to 16,416.19, Hong Kong’s Hang Seng lost 3.13% to 19,020.55 and Singapore’s Straits Times declined 2.86% to 2,562.96.
Back home, heavyweights Maybank lost 5 sen to RM8.28, TNB eased 2 sen to RM12.88, Public Bank gave up 4 sen to RM18.14 and Petronas Chemicals shed 2 sen to RM6.99.
Leading the top losers list were Lay Hong which dropped 39 sen to RM8.10, UMW Holdings fell 35 sen to RM6.70, Kossan Rubber was 31 sen lower at RM8.69 and Shell Refining gave up 29 sen to RM5.15.
On the scoreboard, the FBM Emas Index decreased 98.64 points to 11,318.96, the FBMT100 Index reduced 86.28 points to 11,008.98 and the FBM Emas Syariah Index slipped 108.59 points to 12,261.41.
The FBM 70 fell 155.91 points to 12,742.51 and the FBM ACE declined 189.98 points to 5,995.06.
Sector-wise, the Industrial Index was down 13.3 points to 3,123.20, the Finance Index decreased 72.27 points to 13,683.57 and the Plantation Index slid 66.52 points to 7,452.77.
Main Market volume increased to 1.37 billion units, worth RM1.89 billion, from Tuesday’s 1.32 billion units, valued at RM1.6 billion.
Turnover on the ACE Market declined slightly to 598.67 million shares, valued at RM127.17 million, from 599.7 million shares, worth RM117.7 million yesterday.
Warrants increased to 370.04 million units, valued at RM75.60 million, from 271.88 million units, worth RM46 million yesterday.
Consumer products accounted for 222.32 million shares traded on the Main Market, industrial products (309.63 million), construction (68.27 million), trade and services (461.47 million), technology (39.99 million), infrastructure (14.26 million), Spac (32.17 million), finance (44.28 million), hotels (1.14 million), properties (150.25 million), plantations (14.57 million), mining (5,000), Reits (10.18 million) and closed/fund (40,000).
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