Daily Market Close (Down 1.27 points)

The FBMKLCI extended its losing streak for the fifth straight trading session after shedding 1.27 points or 0.08% on Friday to close the week below the psychological 1,700-mark at 1,665.71. Despite the lackluster performance, buying interest remained intact as evident by the breaching of the 2 billion share-mark, probably as investors dabbled in second liners and penny stocks.

At the currency market, the ringgit closed flat against the greenback at 4.3012/US$, a mere 0.05% lower from Thursday’s close of 4.2990/US$. The intra-day low touched by the local currency was 4.3210/US$.

At the regional level, except for Japan’s Nikkei 225 Index which firmed 147.39 points or 0.78% to 19,083.10 on hopes of fiscal policy stimulus, other major stocks markets ended Friday’s trading in the red. China’s Shanghai Composite Index ended flat at 3,382.92 (down 4.39 or 0.13%) while neighboring Hong Kong’s Hang Seng Index tumbled 179.90 points or 0.79% to 22,640.04.

Elsewhere, Australia’s S&P/ASX 200 retreated 27.42 points or 0.52% to 5,239.44 while South Korea’s KOSPI Index  shed 4.69 points or 0.23% to 2,029.47.

Back home, the Finance Index dipped 0.18% to 14,161.21 points, the Properties Index gained 0.07% to 1,186.87 points but the Plantation Index was 0.01% lower at 7,540.21 points. The market traded within a range of 9.50 points between an intra-day high of 1,673.26 and a low of 1,663.76 during the session.

Major decliners among the index-linked stocks were CIMB (-8 sen to RM4.61), PPB (-26 sen to RM15.46), SIME (-12 sen to RM8.36), ASTRO (-3 sen to RM2.86) and KLK (-20 sen to RM22.78).

Actively traded stocks included RGB (+1 sen at 18 sen), XOX (+4 sen at 31 sen), MRCB-WA (+2 sen at 17 sen), GENETEC (unchanged at 20.5 sen) and INIX (+½ at 13.5 sen). Trading volume decreased to 2,124.40 million shares worth RM2,044.50 million as compared to Thursday’s 2,168.17 million shares worth RM2,281.07 million.

Major decliners among the index-linked counters were HLBANK (+26 sen to RM13.98), UMW (+14 sen to RM8.22), GENM (+6 sen to RM4.30), PETCHEM (+8 sen to RM6.35) and IHH (+6 sen to RM6.31).

Market breadth was positive with gainers outpacing losers with 451 to 396.


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