Malaysia's Stock Market Ends Lower On Profit Taking

KUALA LUMPUR, March 31 (Bernama) -- The Malaysian stock market (Bursa Malaysia) closed lower Friday on profit-taking in heavyweights led by telecommunications and industrial stocks and in line with most Asian peers, dealers said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.16 points to 1,740.09 against Thursday's close of 1,749.25, after moving between 1,740.09 and 1,748.19 throughout the day. The index opened 2.29 lower at 1,746.96. Market breadth was negative with 467 losers and 431 gainers, while 380 counters were unchanged, 443 untraded and 37 others suspended. Volume narrowed to 3.12 billion units worth RM2.68 billion from the 3.22 billion units valued at RM2.56 billion registered yesterday. A dealer said the market traded sideways in the absence of fresh domestic catalysts. Meanwhile, in a note on Friday, Hong Leong Investment said investors were locking in profits ahead of the closure of the first quarter 2017. Among heavyweights, Maybank was flat at RM8.92, TNB and Sime Darby fell two sen each to RM13.72 and RM9.28 respectively, and Public Bank eased four sen to RM19.90. Of the actives, Engtex was flat at RM1.28, Nexgram added half-a-sen to 5.5 sen and RCE Capital rose five sen to RM1.78. The FBM Emas Index eased 50.93 points to 12,361.69, the FBMT100 Index shed 56.59 points to 12,006.69 and the FBM 70 lost 43.64 points to 14,550.47. The FBM Emas Shariah Index was 51.49 points lower at 12,811.34, but the FBM Ace increased 104.81 points to 5,827.48. Sector-wise, the Finance Index dipped 65.60 points to 15,659.67, the Industrial Index was down 9.45 points to 3,254.42 and the Plantation Index shed 9.71 points to 8,202.52. -- BERNAMA