KUALA LUMPUR, Aug 7 — Bursa Malaysia shook off early losses to close mixed today, with the benchmark index ending little changed on cautious market sentiment as key economic data from the United States and China due later this week weighed on investors’ risk appetite.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.60 of-a-point to 1,445.81 points from 1,445.21 points at the close on Friday.
The barometer index opened 0.32 of-a-point easier at 1,444.89 points and moved between 1,442.13 and 1,449.38 points throughout the day.
However, the broader market was weaker with losers outpacing gainers 482 to 330, while 457 counters were unchanged, 1,005 untraded and 26 others suspended.
Turnover increased to 3.13 billion units worth RM1.34 billion from 2.68 billion units valued at RM1.42 billion on Friday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the barometer index went through a roller coaster trading session today but managed to end on a positive note, albeit only marginally higher.
“Sentiments may be cautious in view of external factors, however, we believe the FBM KLCI would remain steady due to persistent support from local institutions and the return of foreign funds.,”.
Thong said the Brent crude oil continued its upward trajectory to US$86 per barrel, attributed to Saudi Arabia and Russia’s pledge to implement output cuts, which would provide an opportunity for short-term play in the oil and gas stocks.
“We foresee the FBM KLCI to trend higher within the 1,440-1,460 range for the week, with immediate resistance at 1,460 and support at 1,440.”
Regionally, he said the key indices trended mixed as investors were cautious ahead of China’s inflation figures and trade balance later this week.
Meanwhile, the United States Labour Department’s data indicated that the workforce in the country saw an expansion of 187,000 jobs in July compared with the revised June figures of 185,000 jobs.
This outcome has fuelled speculation that the Federal Reserve might decide to keep interest rates steady in next month’s policy meeting, he said.
The US inflation data is due out on Thursday, while China’s data will be released on Wednesday.
Heavyweights, Maybank and Public Bank added one sen each to RM8.92 and RM4.13 respectively, CIMB gained two sen to RM5.52, while Petronas Chemicals was flat at RM6.85.
Tenaga shed four sen to RM9.56 while IHH Healthcare lost eight sen to RM5.93.
Of the actives, Sapura Energy and Widad Group inched up half-a-sen each to five sen and 43.5 sen respectively, Classita trimmed 2.5 sen to 13.5 sen, Advance Synergy added one sen to 17.5 sen, while MST Golf perked up by five sen to close at 64.5 sen.
On the index board, the FBM Emas Index perked 0.64 of-a-point to 10,618.01 and the FBMT 100 Index improved 0.76 of-a-point to 10,311.64.
The FBM Emas Shariah Index declined 10.22 points to 10,861.33, the FBM 70 Index fell 13.95 points to 13,907.21, and the FBM ACE Index shed 0.32 of-a-point to 5,253.39.
Sector-wise, the Financial Services Index garnered 30.24 points to 16,172.26, the Energy Index climbed 3.18 points to 829.54, the Plantation Index rose 29.84 points to 7,110.55, while the Industrial Products and Services Index eased 0.04 of-a-point to 166.46.
The Main Market volume expanded to 2.39 billion units valued at RM1.12 billion from 1.77 billion units valued at RM1.17 billion last Friday.
Warrants turnover dwindled to 265.57 million units worth RM38.7 million versus 410.15 million units worth RM66.15 million previously.
The ACE Market volume narrowed to 470.54 million shares valued at RM186.42 million compared with 490.84 million shares valued at RM183.68 million on Friday.
Consumer products and services counters accounted for 674.67 million shares traded on the Main Market, industrial products and services (342.01 million); construction (108.19 million); technology (717.72 million); SPAC (nil); financial services (35.93 million); property (192.78 million); plantation (54.6 million); REITs (14.47 million), closed/fund (115,800); energy (705.09 million); healthcare (34.14 million); telecommunications and media (39.54 million); transportation and logistics (46.16 million); and utilities (72.17 million).
— Bernama
