Bursa Malaysia Lower At Midday On Profit-Taking
KUALA LUMPUR, July 15 (Bernama) -- Bursa Malaysia trended lower at midday, weighed down by profit-taking, mainly in the banking and utilities counters.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.19 points to 1,714.75 from Tuesday’s close of 1,719.94.
The FBM KLCI, which opened 0.72 of a point higher at 1,720.66, moved between 1,713.12 and 1,724.83 during the morning trading session.
However, on the broader market, gainers surpassed losers 509 to 457, while 498 counters were unchanged, 1,239 untraded, and 11 suspended.
Turnover stood at 2.67 billion units worth RM1.44 billion.
In a note today, Hong Leong Investment Bank Bhd (HLIB) said near-term volatility is likely to persist amid lingering West Asia tensions, global supply chain risks and a hawkish United States Federal Reserve narrative.
“Domestically, the upcoming Negeri Sembilan polls and potential Melaka elections may further heighten political uncertainty. The elevated risk premium could cap KLCI gains and prolong consolidation,” it said.
Among the heavyweights, Maybank lost two sen to RM10.98, Public Bank slid three sen to RM5.02, CIMB was six sen weaker at RM7.71 and Tenaga Nasional fell four sen to RM14.36, while IHH Healthcare rose 20 sen to RM8.65.
As for the active stocks, Tanco increased three sen to 34.5 sen, VS Industry, HHRG and PA Resources gained 1.5 sen each to 22.5 sen, 16.5 sen and 20 sen, respectively, while Enest was down 2.5 sen to 10.5 sen.
Of the top gainers, Nestle added RM1.50 to RM92.0, Malaysian Pacific Industries firmed by RM1.02 to RM45.42, UWC gained 21 sen to RM6.20 and Pentamaster increased 20 sen to RM4.85.
Batu Kawan led the losers list, falling 48 sen to RM21.22, while Hong Leong Bank shed 28 sen to RM21.96, Fraser & Neave dropped 26 sen to RM29.02 and Petronas Gas decreased 22 sen to RM17.66.
Among the broader indices, the FBM Emas Index declined 5.35 points to 12,656.58 and the FBMT 100 Index contracted 9.96 points to 12,488.70.
The FBM Emas Shariah Index racked up 30.29 points to 12,522.33, the FBM 70 Index widened 104.69 points to 17,901.71, and the FBM ACE Index recovered 31.27 points to 4,893.33.
Sector-wise, the Financial Services Index dipped 121.16 points to 20,118.34, the Industrial Products and Services Index fell 0.94 of a point to 187.57 and the Energy Index edged down 1.54 points to 772.11, while the Plantation Index strengthened 41.70 points to 9,410.12.
-- BERNAMA