Kuala Lumpur stock exchange’s benchmark index today plunged 9.52 points to settle at 1,597.33 points, from Monday’s close of 1,606.85 points.
Throughout the trading day, the benchmark KLCI fluctuated within a range of 12.30 points, from the low of 1,594.51 points to the high of 1,606.81 points.
This morning, the key index opened 1.59 points lower as some investors were cautious ahead of the US Fed’s speculated rate cut decision to be announced on Wednesday (US time zone).
At midday, the benchmark index shed 5.11 points to 1,601.74 points, a little over one point above the 1600-point threshold, after moving within the 5.73-point range from 1,601.08 points to 1,606.81 points.
Sector-wise, at closing, the exchange’s Industrial Products & Services category recorded the biggest decline where the industrial sector index dipped 1.69 per cent to settle at 172.14 points, followed by the Property Index which shed 0.92 per cent to close at 1086.36 points, and the Consumer Products & Services Index which gave up 0.71 per cent, ending the day at 542.51 points.
Only two sector indices ended in the green territory at closing, namely, the Telecommunications & Media Index and the Utilities Index which increased marginally by 0.12 per cent and 0.01 per cent, respectively. The Telecommunications & Media Index closed at 541.20 points, while the Utilities Index settled at 1,691.47 points.
ACE market debutant Vanzo Holdings Bhd this morning recorded a 16.67% increase over its listing price of RM0.15, rising 2.5 sen to trade at RM0.175. The stock at one point rallied up four sen, or 26.67%, to the high of RM0.19 during the half-day session. At closing, Vanzo traded at RM0.165, which was 1.5 sen above its Initial Public Offering (IPO) issuance price.
Vanzo, which produces and markets fragrance, was also the most actively traded counter at midday and at closing, recording turnovers of 169,302,300 shares/units and 201,557,500 shares/units, respectively.
Comparatively, the second most traded stock Zen Tech International Bhd which is also an Ace market listing, recorded a volume of 160,462,000 shares/units.
Plantation stocks were major gainers today. United Plantations Bhd surged 40 sen to settle at RM32.40 on a volume of 796,400 shares/units. At midday, United Plantations rallied up by RM1.04, or 3.25 per cent, to RM33.04 on a volume of 364,800 shares/units.
Despite a major sector index decline of 1.69%, Main market’s industrial listing Ge-Shen Corporation Bhd surged 25 sen, or 6.61%, to close at RM4.03 on a volume of 182,400 shares/units.
The Hong Leong-affiliated stocks extended their downward momentum from midday to register the biggest intraday losses at closing. Financial services stock Hong Leong Bank Bhd was the second-placing decliner which shed 32 sen intraday to settle at RM20.12 on a turnover of 1,714,000 shares/units. Hong Leong Financial Group Bhd, also a financial services listing, trimmed 30 sen intraday, ending the day at RM17.94 on a turnover of 119,900 shares/units. Consumer listing Hong Leong Industries Bhd fell 24 sen to close at RM14.24 on a turnover of 57,
On the broader market, decliners outnumbered gainers by 704 to 346, while 530 counters were unchanged, 891 untraded.
The daily exchange-wide turnover fell to 3.00 billion (2,992,971,600) shares/units valued at nearly RM2.44 billion (RM2,437,562,902) from 3.16 billion (3,160,517,600) shares/units worth RM2.45 billion (RM2,454,380,128).
