Bursa slips for a second straight day; MMC hits limit up

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KUALA LUMPUR: Bursa Malaysia saw a follow through in selling pressure on Friday which took the benchmark index lower amid a weak broader market.

The FBM KLCI closed down 12.12 points, or 0.76% to 1,578.45. It opened 0.27 points lower at 1,590.30 this morning. For the week, the benchmark index fell about 1%.

Losers outpaced gainers 605 to 451, while 430 counters were unchanged. Traded volumes were higher at 7.20 billion shares worth RM3.57bil as profit taking activities took control.

According to data from Bursa Malaysia, foreign investors were net sellers at RM61mil but local institutions were net buyers at RM4mil on Thursday. Retail investors acquired RM57mil worth of equities.

Shares of MMC Corp and its call warrants dominated the gainer’s list on Bursa Malaysia. MMC hit limit up, rising 39 sen to RM1.69, its highest since May 2018.

Computer Forms rose 42 sen to RM4.06, Batu Kawan added 20 sen to RM19.48, Pecca advanced 18 sen to RM4.44 and MNRB gained 15 sen to RM1.37.

Among the losers, MPI declined 88 sen to RM38.40, Petronas Dagangan eased 36 sen to RM18.74 and Pharmaniaga fell 30 sen to RM5.06.

Among the gloves, Hartalega fell 11 sen to RM8.57, Top Glove shed 10 sen to RM4.90 and Supermax lost nine sen to RM3.92.

Maybank fell three sen to RM8.17, Public Bank lost four sen to RM4.20, CIMB gave up three sen to RM4.45 and RHB Bank shed four sen to RM5.41.

Meanwhile, the ringgit weakens against the US dollar. The ringgit was quoted at 4.1283 against the US dollar 5.12 pm.

The local unit rose 0.22% to 5.8314 against the pound sterling, strengthened 0.48% to the Euro at 4.9995, and gained 0.14% to the Singapore dollar at 3.1078.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.26%.

Japan’s Nikkei 225 lost 0.49% to 28,916.89 while South Korea’s Kospi closed down 7.35 points, or 0.23%, at 3,240.08.

Hong Kong’s Hang Seng index was down 47.93 points or 0.17% at 28,918.10.

China’s CSI300 index rose 0.5%, to 5,282.28, while the Shanghai Composite Index firmed 0.2% to 3,591.84 points.



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