Malaysian Stock Market Ends Easier

KUALA LUMPUR, March 8 (Bernama) -- The Malaysian stock market (Bursa Malaysia) ended on an easier note Wednesday on mild profit-taking, dealers said. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 3.12 points weaker at 1,725.54 from 1,728.66 on Tuesday. The index opened 2.88 points lower at 1,725.78 and moved between 1,724.84 and 1,730.16 throughout the day. However, on the broader market, gainers led decliners by 472 to 416, with 370 counters unchanged, 445 untraded and 16 others suspended. Volume declined to 3.07 billion units worth RM2.44 billion against yesterday's 3.37 billion units worth RM2.91 billion. Hong Leong Investment Bank said despite attempting to breach the 1,730 mark, the FBM KLCI was unable to sustain its gains above the aforesaid level due to some emerging profit-taking. The research firm has anticipated the local bourse's sentiment to turn slightly weaker today after tracking the negative performance on the overnight Dow, coupled with the potential interest rate increase next week. "Investors may take the opportunity to reduce their exposure in the market and the upside might be capped around 1,750," it said. Meanwhile, the FBM Emas Index fell 9.4 points to 12,198.68 and the FBMT100 Index declined 13.1 points to 11,869.87. The FBM Emas Syariah Index was up 2.11 points at 12,617.4. The FBM 70 rose 15.85 points to 14,247.21 and the FBM Ace was 36.82 points higher at 5,339.3. Sector-wise, the Plantation Index fell 74.09 points to 8,100.05, Finance Index declined 30.36 points to 15,490.9 and the Industrial Index eased 1.71 points to 3,250.91. -- BERNAMA