Apr 2: Bursa Malaysia ends lower on losses in heavyweights

April 2, 2018 | By | Reply More

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KUALA LUMPUR: Shares on Bursa Malaysia ended the day lower on weak buying sentiment and losses in key heavyweights.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 5.11 points weaker at 1,858.35 from Friday’s 1,863.46.

After opening 0.4 of-a-point easier at 1,863.06, the benchmark index moved between 1,857.44 and 1,864.17 throughout the day.

Market breadth was negative with 553 losers against 313 gainers, while 408 counters were unchanged, 599 untraded and 21 others suspended.

Volume rose to 2.07 billion units valued at RM1.63 billion from the 1.82 billion units valued at RM1.90 billion recorded last Friday.

In a note, Kenanga Research said the technical picture for Bursa Malaysia seems subdued, given that the momentum indicators are still displaying signs of weakness.

“As the global market is still volatile, investors should be cautious and wait for a decisive break out from 1,880.

“Should this happen, expect the FBM KLCI to rally towards 1,910. Conversely, support levels can be identified at 1,840 and 1,800, if market sentiment remains bearish,” it added.

Among heavyweights, Maybank declined eight sen to RM10.52, Public Bank fell 10 sen to RM23.90 and Tenaga was four sen lower at RM16.20.

Of the actively-traded stocks, Sapura Energy was flat at 54.5 sen, PUC added 3.5 sen to 26 sen and SKH declined 1.5 sen to eight sen.

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