Bursa Malaysia extends yesterday’s losses to end lower

KUALA LUMPUR, Jan 26 ― Bursa Malaysia prolonged yesterday’s losses to conclude decrease, weighed down by offering in selected heavyweights, led by the economic expert services sector, stated a vendor.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.06 points to close at its intraday significant of 1,498.39 from yesterday’s closing of 1,499.45.

The marketplace bellwether opened 2.04 factors decrease at 1,497.41 and hit a small of 1,494.03 throughout the mid-morning session.

However, on the broader sector, gainers outpaced losers 565 to 359, though 431 counters ended up unchanged, 875 untraded and 37 other individuals suspended

Turnover rose to 3.75 billion models value RM2.03 billion versus Wednesday’s 2.83 billion models really worth RM1.68 billion.

Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng told Bernama that the FBM KLCI ongoing to decline regardless of the strong regional effectiveness.

Even so, gainers outnumbered losers, indicating some optimistic sentiment on the wide sector, he noted.

“Bursa Malaysia bucked the regional trend whereby essential regional indices trended typically higher with solid gains in Hong Kong though China’s marketplace remained closed until eventually upcoming 7 days.

“We think the providing in the past two times provides a great opportunity for discount hunting because of to prevailing small valuations. The FBM KLCI is predicted to hover inside the 1,490 to 1,500 array in the direction of the weekend,” he included.

Regionally, Hong Kong’s Hang Seng Index rose 2.37 for each cent to 22,566.78, South Korea’s Kospi improved 1.65 per cent to 2,468.65 and Singapore’s Straits Periods Index included .76 for every cent to 3,378.31, even though Japan’s Nikkei 225 slid .12 for each cent to 27,362.75.

Back property, Bursa heavyweights Maybank shed 3 sen to RM8.78, Community Lender eased 1 sen to RM4.28, CIMB fell 6 sen to RM5.72, Petronas Chemical substances edged up 1 sen to RM8.51, when Tenaga Nasional was flat at RM9.52.

As for the actives, ATA IMS rose 10 sen to 39.5 sen, Velesto edged up half-a-sen to 22.5 sen, Cypark bagged 12 sen to 96 sen, while Sapura Power and Dataprep had been flat at 5 sen and 26.5 sen, respectively. ― Bernama