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KUALA LUMPUR: The shortened trading week has led Malaysian equities to close broadly lower on Friday with selling mainly on technology and industrial products and services counters.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) however closed 0.35 per cent, or 5.05 points higher to 1,431.04 from Wednesday’s close of 1,425.99.
The benchmark index opened 2.38 points lower at 1,423.61 and moved between 1,421.78 and 1,431.15 throughout the trading session.
Market breadth was negative with decliners outpacing gainers 487 to 332, while 411 counters were unchanged, 1,001 untraded and 11 others suspended.
Turnover eased to 2.57 billion units valued at RM1.42 billion, from 3.48 billion units worth RM1.57 billion on Wednesday.
The market was closed on Thursday in conjunction with Wesak Day.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the higher FBM KLCI was due to buying interest in selected heavyweights.
They include Public Bank which rose 2.55 per cent or 10 sen to RM4.01, followed by Petronas Dagangan which added 44 sen to RM22.80 and Maxis which gained seven sen to RM4.59.
He noted that key regional indices trended mostly lower following a negative cue from Wall Street overnight due to concerns about the US banking sector, which is under pressure from interest rate hikes.
Meanwhile, of the other heavyweights, Maybank ticked up three sen to RM8.75, Petronas Chemicals slid 18 sen to RM7.06, CIMB increased six sen to RM5.13, CelcomDigi eased four sen to RM4.40, Tenaga was flat at RM8.98, and IHH Healthcare improved six sen to RM5.86.
Among the most actives, Jade Marvel, Revenue Group, Vinvest and Hong Seng fell one sen each to 27 sen, 34 sen, 20 sen, and 12 sen, while Bahvest rose two sen to 23.5 sen.
On the index board, the FBM Emas Index gained 10.13 of a point to 10,458.25, the FBMT 100 Index increased 13.71 points to 10,153.83 but the FBM Emas Shariah Index erased 27.75 points to 10,758.73.
The FBM ACE Index was 0.30 points lower at 5,213.00 and the FBM 70 index dipped 73.58 points to 13,481.53.
Sector-wise, the Industrial Products and Services Index edged down 1.96 points to 169.49, the Energy Index eased 5.24 points to 828.24, but the Plantation Index recovered 7.18 points to 6,833.79 and the Financial Services Index leaped 119.94 points to 15,708.73. – Bernama
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