MALAYSIAN shares closed down 0.4 per cent today on profit-taking and ahead of results from three by-elections, dealers said.
TA Securities said the local stock market paused for profit-taking consolidation today on uncertainties ahead of the outcome from the keenly watched three by-elections
The benchmark Kuala Lumpur Composite Index fell 3.93, or 0.4 per cent, to close at 919.84, snapping a five-day winning streak. Forty-seven stocks declined and 36 rose on the 100-member measure.
In the market, 695 million shares changed hands, higher than the three-month daily average of 419 million shares. April index April index futures slid 0.9 percent to 918.00.
BIMB Holdings Bhd fell 2.4 per cent to 81.5 sen, its largest decline since March 4. The Islamic bank said it plans to raise RM175.4 million (US$49 million) by selling new shares to Lembaga Tabung Haji, its main shareholder. The funds raised will be used to pump capital into its 51 per cent-owned Bank Islam Malaysia Bhd unit, it said in a statement.
Bumiputra-Commerce Holdings Bhd, Malaysia’s second-biggest bank, dropped 3.9 per cent to RM7.45, the most in a month, snapping a four-day gain. It’s the second-worst performer on the benchmark Composite Index. The stock’s 14-day relative strength index, which shows how rapidly prices have advanced or dropped, was above 70 for the three days before today, the level that some investors use as a trigger to sell.
Malayan Banking Bhd, Malaysia’s largest bank, dropped 5.8 per cent to RM3.92, the biggest decliner on the benchmark Composite Index, as its rights offer totaling 2.2 billion new shares began trading today. The rights shares traded at RM1.06 each and were the most active on the stock exchange, with 108.9 million traded.
Public Bank Bhd, Malaysia’s third-largest lender, fell 1.3 per cent to RM7.85, after it had its target price cut to RM10.50 from RM11.90 by HwangDBS Vickers Research Sdn Bhd. - Bloomberg
TA Securities said the local stock market paused for profit-taking consolidation today on uncertainties ahead of the outcome from the keenly watched three by-elections
The benchmark Kuala Lumpur Composite Index fell 3.93, or 0.4 per cent, to close at 919.84, snapping a five-day winning streak. Forty-seven stocks declined and 36 rose on the 100-member measure.
In the market, 695 million shares changed hands, higher than the three-month daily average of 419 million shares. April index April index futures slid 0.9 percent to 918.00.
BIMB Holdings Bhd fell 2.4 per cent to 81.5 sen, its largest decline since March 4. The Islamic bank said it plans to raise RM175.4 million (US$49 million) by selling new shares to Lembaga Tabung Haji, its main shareholder. The funds raised will be used to pump capital into its 51 per cent-owned Bank Islam Malaysia Bhd unit, it said in a statement.
Bumiputra-Commerce Holdings Bhd, Malaysia’s second-biggest bank, dropped 3.9 per cent to RM7.45, the most in a month, snapping a four-day gain. It’s the second-worst performer on the benchmark Composite Index. The stock’s 14-day relative strength index, which shows how rapidly prices have advanced or dropped, was above 70 for the three days before today, the level that some investors use as a trigger to sell.
Malayan Banking Bhd, Malaysia’s largest bank, dropped 5.8 per cent to RM3.92, the biggest decliner on the benchmark Composite Index, as its rights offer totaling 2.2 billion new shares began trading today. The rights shares traded at RM1.06 each and were the most active on the stock exchange, with 108.9 million traded.
Public Bank Bhd, Malaysia’s third-largest lender, fell 1.3 per cent to RM7.85, after it had its target price cut to RM10.50 from RM11.90 by HwangDBS Vickers Research Sdn Bhd. - Bloomberg
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