Bursa Malaysia retreated from yesterday’s gains to close lower today on profit-taking with sentiment remaining wary over falling oil prices, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.0 points to 1,660.23, after fluctuating between 1,657.78 and 1,665.17 throughout the day.

The barometer index opened 0.92 point lower at 1,664.31.

Market breadth was negative with 491 gainers and 277 losers, while 362 counters were unchanged, 548 untraded and 19 others suspended.

Volume increased to 1.92 billion units worth RM1.84 billion from 1.78 billion units worth RM2.02 billion yesterday.

The overnight decline in crude oil prices had hit sentiment, but the rebound in the oil prices did not lend much support to the local bourse and regional markets, as worries over excessive production pressured the oil and gas stocks.

US Crude added 0.1 percent to US$40.11 per barrel, after declining 3.7 percent yesterday, while Brent Crude increased 0.4 percent to US$42.30 after falling 3.2 percent.

Another dealer said the local bourse could rebound on receding concerns of a rate hike by the US Federal Reserve in the near future and hopes of more stimulus measures by the government as well as policy easing by Bank Negara Malaysia to stimulate the slowing economy.

Regionally, Japan’s Nikkei 225 fell 1.47 percent to 16,391.45 and Singapore’s Straits Times decreased by 1.32 percent to 2,854.35.

Of the heavyweights, TNB added two sen to RM14.40, Public Bank gained 12 sen to RM19.80, but Maybank eased five sen to RM7.98, IHH Healthcare dwindled two sen to RM6.54 while Petronas Chemicals and Axiata each lost half-a-sen to RM6.59 and RM5.69, respectively.

Among losers, Panasonic Manufacturing contracted RM1.34 to RM37.78, Lay Hong shed 20 sen to RM8.60, AEON Credit reduced 18 sen to RM14 and Genting Plantations gave up 14 sen to RM10.44.

On the scoreboard, the FBM Emas Index erased 39.07 points to 11,630.39, the FBMT100 Index fell 37.09 points to 11,333.41 and the FBM 70 slid 54.06 points to 13,272.51.

The FBM Emas Shariah Index lost 48.72 points to 12,223.38 and the FBM Ace decreased 98.25 points to 5,392.26.

Sector-wise, the Finance Index reduced 47.49 points to 14,236, the Industrial Index decreased 7.07 points to 3,111.98, and the Plantation Index fell 6.38 points to 7,586.92.

Main Market turnover rose to 1.26 billion shares worth RM1.75 billion from 1.19 billion shares valued at RM1.91 billion recorded yesterday.

The ACE Market volume reduced to 324.12 million units worth RM57.73 million from yesterday’s 393.84 million units valued at RM70.77 million.

Warrants advanced to 334.88 million shares worth RM36.80 million from 196.62 million shares worth RM34.49 million previously.

Consumer products accounted for 89.29 million shares traded on the Main Market, industrial products (199.50 million), construction (55.06 million), trade and services (500.60 million), technology (120.32 million), infrastructure (18.32 million), SPAC (12.27 million), finance (146.90 million), hotels (467,300), properties (63.79 million), plantations (29.18 million), mining (21,000), REITs (19.73 million) and closed/fund (24,500).

- Bernama