KUALA LUMPUR, May 18 (Bernama) — Bursa Malaysia closed almost flat today as traders trimmed their positions ahead of the weekend, dealers said.
At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.06 of-a-point higher at 1,854.5 from yesterday’s close of 1,854.44.
The index opened 4.18 points higher at 1,858.62 and moved between 1,853.57 and 1,862.19 throughout the day.
A dealer said the local market paused for a breather as investors awaited more policy updates from the newly minted Pakatan Harapan-led government ahead of the weekend.
Hermana Capital Bhd’s Chief Executive Officer and Chief Investment Officer Datuk Dr Nazri Khan Adam Khan said investors, especially foreign, were still awaiting the formation of the Cabinet for more clarity on the country’s policy going forward.
“The formation of the Cabinet will give a boost to the confidence of foreign investors,” he told Bernama.
Among heavyweights, Public Bank added four sen to RM24.38, TNB gained two sen to RM15.92 and Petronas Chemicals earned one sen to RM8.69.
CIMB lost one sen to RM6.80 while Maybank was flat at RM10.82.
Among actives, MyEG added two sen to 92.5 sen and Nexgram gained one sen to 4.5 sen while Netx was flat at three sen.
Sapura Energy slipped half-a-sen to 76 sen and WCT fell 12.5 sen to 72 sen.
Dayang slipped 16.5 sen to 57 sen at 4.18 pm and was suspended by Bursa Securities until next Monday.
Market breadth was negative with losers outpacing gainers 607 to 380, with 368 counters unchanged, 527 untraded and 20 others suspended.
Volume decreased to 2.91 billion units valued at RM3.16 billion from yesterday’s 3.32 billion units valued at RM3.78 billion.
The FBM Emas Index decreased 30.79 points to 12,863.22, the FBM Ace eased 5.21 points to 5,385.1 and the FBMT 100 Index went down 24.47 points to 12,663.36.