Share prices on Bursa Malaysia closed mixed today on lack of buying support as the market was slowly digesting the implications of the 2014 Budget announcement last week amid losses in finance counters, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI closed 2.74 points lower at 1,815.65, after moving between 1,813.87 and 1,821.79 throughout the day.
Total volume rose to 1.809 billion shares valued at RM1.892 billion, from 1.757 billion shares valued at RM1.363 billion recorded yesterday.
Gainers outpaced losers 418 to 379, with 303 counters unchanged, 528 untraded and 59 others suspended.
Interpacific Research head of research Pong Teng Siew said finance and propertys stocks could be affected by the Budget 2014 annoucement.
"This is related to the rise in the Real Property Gains Tax (RPGT) to curb speculation in the property market.
"The increase in the RPGT will slow down the loan growth for banking, as lending, especially for property, is a fast moving business for banking," he told Bernama.
Pong said technology-based stocks would benefit from the budget following the announcement of the Goods and Services Tax (GST), as businesses are required to change their software to be able to adapt to the new tax system.
"Plantation stocks, heading to year-end amid the rainy season, will be holding quite firm," Pong added.
He said today's trading was mostly supported by buying interest in penny stocks.
Meanwhile, on the scoreboard, the Finance Index decreased 98.34 points to 16,744.78 and the Industrial Index fell 0.26 point to 3,141.81.
The Plantation Index added 48.22 points to 8,549.33.
The FBM Emas Index declined 15.81 points to 12,614.73, the FBMT100 Index lost 18.45 points to 12,340.62 and the FBM 70 Index fell 20.77 points to 14,300.78.
The FBM ACE Index gained 108.78 points to 5,729.33.
Among actives, Hubline was flat at 6.5 sen while Instacom-WB added one sen to 16 sen and Censof rose three sen to 60.5 sen.
For heavyweights, Maybank dipped 15 sen to RM9.81, Axiata lost two sen to RM6.89 and CIMB shed four sen to RM7.60.
Volume on the Main Market improved to 1.348 billion units valued at RM1.779 billion, from 1.364 billion shares valued at RM1.261 billion registered yesterday.
Turnover on the ACE market added to 415.218 million shares worth RM107.506 million, from 350.578 million shares worth RM97.368 million transacted yesterday.
Warrants increased to 42.456 million units valued at RM3.819 million, from 39.994 million units valued at RM3.573 million recorded on Monday.
Consumer products accounted for 159.085 million shares on the Main Market, industrial products 179.5 million, construction 42.646 million, trade and services 469.132 million, technology 175.69 million, infrastructure 45.819 million, SPAC 49.971 million, finance 49.651 million, hotels 2.278 million, properties 148.248 million, plantations 19.946 million, mining 41,000, REITs 6.639 million and closed/fund 101,500.-- Bernama