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Bursa ends lower as China Q3 growth slows

KUALA LUMPUR, Oct 19 ― Bursa Malaysia continued to slide at close today, tracking most Asian bourses prompted by China’s slightly slower economic growth in the third quarter, as investors also await new developments in the United States, dealers said.

At the close, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.00 points to close at 1,743.99, after moving between 1,741.62 and 1,750.59 throughout the day.  

It opened 0.86 of-a-point better at 1,749.85 from Tuesday's close of 1,748.99.

On the broader market, losers outpaced gainers by 544 to 365 with 392 counters unchanged, 551 untraded and 19 others suspended.

Volume increased to 3.16 billion units worth RM2.51 billion from 2.89 billion units worth RM2.28 billion.

A dealer said most Asian markets were weaker, influenced by the slightly lower China’s economic growth, which grew at 6.8 per cent in the third quarter from 6.9 per cent expansion in the previous quarter.

“Besides this, the other factor that could provide market direction, at least for a short term, is the replacement of the US Federal Reserve Chair, Janet Yellen.

“Her term is expected to expire in February next year, and investors are speculating on who is going to take her place,” the dealer said.

Meanwhile, he said, back home, the trading on Bursa Malaysia was on the downtrend in this holiday-shortened week, while traders remained on the sidelines ahead of the 2018 Budget announcement.

“We anticipate to see some new, positive measures in certain sectors to boost the economy,” he added.

Of the heavyweights, Petronas Gas fell 52 sen to RM17.98, Digi shed 12 sen to RM4.77, Maybank eased seven sen to RM9.35, Sime Darby was down three sen to RM9.04, Tenaga rose four sen to RM14.32 and Public Bank was two sen better at RM20.48.

Among active counters, Key Asic declined five sen to 27.5 sen, Hubline and Sino Hua-An shed half-a-sen each to 16.5 sen and 21.5 sen, respectively, while Vsolar was half-a-sen better at 14 sen.

The FBM Emas Index lost 27.17 points to 12,527.16, FBM Emas Shariah Index declined 18.65 points to 12,848.16, and the FBM 70 eased 6.59 points to 15,274.47.

The FBMT 100 Index was down by 27.44 points to 12,172.47 and the FBM Ace shed 29.58 points to 6,956.36.

Sector-wise, the Plantation Index erased 13.75 points to 7,911.17, Industrial Index dropped 26.71 points to 3,190.88 and the Finance Index gave up 49.11 points to 16,346.73.

The Main Market volume increased to 1.69 billion units worth RM2.54 billion from 1.53 billion units worth RM2 billion.

Volume on the ACE Market advanced to 1.27 billion shares valued at RM234.41 million from 1.20 billion shares valued at RM265.46 million.

Warrants volume was higher at 191.32 million units worth RM19.66 million versus 132.58 million units worth RM13.66 million.

Consumer products accounted for 67.60 million shares traded on the Main Market, industrial products (373.78 million), construction (80.31 million), trade and services (641.37 million), technology (288.46 million),  infrastructure (10.46 million), SPAC (4.22 million), finance (67.31 million), hotels (768,300), properties (122.30 million), plantations (21.20 million), mining (17,100), REITs (11.14 million), and closed/fund (10,000). ― Bernama

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