Malaysian Stock Market Closes Lower On Bearish Sentiment

KUALA LUMPUR, Oct 18 (Bernama) -- The Malaysian stock market (Bursa Malaysia) closed lower Thursday on bearish sentiment amid the weaker regional markets. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 2.58 points to 1,738.01 against Wednesday's close of 1,740.59. The index opened 2.19 points lower at 1,738.40 and moved between 1,735.07 and 1,740.83 throughout the day. A dealer said Asian stocks were broadly lower as the US Federal Reserve’s report hinted at more rate hikes ahead. Japan’s Nikkei 225 edged down 0.80 per cent to 22,658.16, China’s Shanghai Composite Index decreased 2.94 per cent to 2,486.42 and Hong Kong's Hang Seng eased 0.03 per cent to 25,454.55. Among Bursa Malaysia's heavyweights, Maybank added one sen to RM9.60 and Public Bank gained four sen to RM25.02. TNB declined two sen to RM14.58 and Petronas Chemicals eased one sen to RM9.34 while CIMB was flat at RM6.03. As for actives, Borneo Oil and Sapura Energy slipped half-a-sen each to five sen and 34.5 sen respectively, MRCB declined two sen to 77.5 sen and Tiger Synergy lost one sen to 5.5 sen. Lion Industries added 2.5 sen to 80 sen. Market breadth was negative with losers leading gainers 472 to 338, with 371 counters unchanged, 728 untraded and 51 others suspended. Volume was lower at 2.0 billion units valued at RM2.02 billion from Wednesday’s 2.02 billion units valued at RM2.08 billion. – BERNAMA