Prevailing subdued market sentiment stemming from weak oil prices sent the FBMKLCI tumbling 10.43 points or 0.62% to 1,672.16 on the first trading day of the week. This is in tandem with regional trend and the fall of heavyweight stocks notably BAT, TENAGA, SIME, MAYBANK and DIGI.
Nevertheless buying interest remained intact if measured by the daily traded volume which hovered in the 2.5 billion share mark.
At the currency market, the ringgit continued to soften against the greenback, slipping a slight 0.15% to 4.2600/US$ from Friday’s close of 4.2535/US$. The local currency had earlier touched an intra-day low of 4.2913/US$.
At the regional level, major stock markets closed Monday’s trading in the negative territory with the exception of China’s Shanghai Composite Index which rebounded 9.37 points or 0.27% to 3,445.68 following Friday’s plunge of almost 200 points.
The biggest loser was South Korea’s KOSPI Index which slumped 37.02 points or 1.82% to 1,991.97 while Japan’s Nikkei 225 Index surrendered 136.47 points or 0.69% to 19,747.47. Elsewhere, Australia’s S&P/ASX 200 gave up 36.07 points or 0.69% to 5,166.52 while Hong Kong’s Hang Seng Index dipped 71.90 points or 0.33% to 21,996.42.
Back home, the Finance Index dipped 0.24% to 14,100.82 points, the Properties Index inched down 0.47% to 1,186.324 points while the Plantation Index dropped 0.04% to 7,596.70 points. The market traded within a range of 9.80 points between an intra-day high of 1,675.41 and a low of 1,663.03 during the session.
Major decliners among the index-linked stocks were BAT (-64 sen to RM57.86), TENAGA (-24 sen to RM13.36), SIME (-14 SEN to RM7.91), MAYBANK (-12 sen to RM8.32) and DIGI (-12 sen to RM5.00).
Actively traded stocks included BORNOIL (+½ sen at 16.5 sen), INSTACO (unchanged at 32 sen), XOX (-2.5 sen at 31 sen), WINTONI (-2.5 sen at 6 sen) and BORNOIL-WC (+½ sen at 9 sen).
Trading volume increased to 2.51 billion shares worth RM3.79 billion as compared to Friday’s 2.40 billion shares worth RM2.06 billion.
Major advancers among the index-linked counters were PBBANK (+12 sen to RM18.38), HLFG (+40 sen to RM14.00), HLBANK (+20 sen to RM13.56), KLK (+14 sen to RM22.94), WPRTS (+10 sen to RM4.30) and CIMB (+5 sen to RM4.55).
Market breadth was negative with losers thumping gainers by 679 to 270.