Bursa Malaysia slips into the red as oil price dip

Bursa Malaysia slips into the red as oil price dip
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KUALA LUMPUR (April 28): Bursa Malaysia slipped into the red as oil prices slumped, pulling almost all index down across the board. 

At 11am, key index FTSE Bursa Malaysia KLCI (FBM KLCI) shrank 0.69 points to 1,369.47 following volatile trading since the market resume trading this morning. 

On the overall market, losers had dominated the charts by 500 against 194 gainers, while 320 counters were unchanged, 899 untraded and 30 suspended. 

Turnover shot up to 2.26 billion shares worth RM850.76 million from 382.14 million shares during the opening. 

The decline was in line with other Asian stocks with bourses in Japan and South Korea took a dip while Hong Kong, China and Australia remained in volatile mode.

As at 9am, benchmark Brent crude had slipped to below US$20 per barrel at US$19.73 while WTI crude was at US$11.95 per barrel. 

On heavyweight counters, Maybank declined two sen to RM7.38, Petronas Chemicals shed one sen to RM5.25, MISC declined 14 sen to RM7.76 and CIMB loss eight sen to RM3.44. 

Active counters witnessed a mixed transaction with energy counters recording the most decline. 

Velesto slipped one sen to 12.5 sen, Bumi Armada declined half a sen to 16.5 sen while Powerwell was down 2.5 sen to 29.5 sen. 

As for top gainers, Petronas Dagangan added 44 sen to RM20.18, Panasonic Malaysia added 20 sen to RM31.40 and Hartalega rose nine sen to RM7.66. 

For top losers, Jaks Resources, MSM, Telekom Malaysia and UMW all shed three sen to 99 sen, 58 sen, RM3.99 and RM2.07 respectively. 

On the index board, the FBM Emas was 21.59 points lower at 9,538.18, 88, the FBMT 100 Index decreased 16.20 points to 9,418.92, the FBM Emas Shariah Index declined 13.94 points to 10,582.48, the FBM ACE depreciated 76.00 points to 4,512.13 while the FBM 70 shed 66.89 points to 11,370.01.

Sector-wise, the Financial Services Index contracted 44.23 points to 12,224.00, the Industrial Products and Services Index was 0.49 points lower at 114.85 while the Plantation Index slipped 33.74 points to 6,136.83.