Bursa Malaysia turns negative at mid-morning

by Jonathan Adams
Bursa Malaysia

FTSE Bursa Malaysia KLCI dropped 9.53 points to 1,579.66 from last Friday’s close of 1,589.19

Bursa Malaysia has turned negative at mid-morning, succumbing to selling pressure among heavyweight stocks, dealers said.

At 11.03 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 9.53 points to 1,579.66 from last Friday’s close of 1,589.19.

It opened 1.48 points higher at 1,590.67.

Market breadth was negative with losers edging past gainers 436 to 425, while 408 counters were unchanged, 969 untraded and 17 others suspended.

Trading activity on Bursa Malaysia is expected to be cautious as investors will be closely watching domestic and global economic developments.

Turnover stood at 2.01 billion shares worth RM1.08 billion ($0.26 billion).

Among the heavyweights, Maybank dropped four sen to RM8.32 ($2.01), Public Bank declined six sen to RM4.07 ($0.98), Petronas Chemicals shed seven sen to RM8.17 ($1.97), Tenaga Nasional lost 10 sen to RM10.26 ($2.48), while IHH Healthcare rose seven sen to RM6.40 ($1.54).

Of the actives, Emico advanced 8.5 sen to 45.5 sen, KNM perked 1.5 sen to 30 sen, XOX and Avillion added half-a-sen each to four sen and 13.5 sen, respectively, while Bina Puri dropped half-a-sen to 5.5 sen.

On the index board, the FBM Emas Index declined 34.78 points to 11,560.20, the FBMT 100 Index was 42.35 points lower at 11,250.64, and the FBM Emas Shariah Index declined 25.43 points to 12,669.32.

The FBM ACE declined 26.89 points to 7,224.89, while the FBM 70 rose 42.42 points to 15,142.67.

Sector-wise, the Plantation Index dropped 39.44 points to 6,660.25, the Financial Services Index shed 86.46 points to 15,450.31 and the Industrial Products and Services Index eased 0.19 of-a-point to 199.73.

The Healthcare Index gained 13.47 points to 2,798.56, the Energy Index eased 0.70 of-a-point to 770.94 and the Technology Index dropped 0.49 of-a-point to 90.11.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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