Bursa Malaysia Stays Lower At Midday
KUALA LUMPUR, Aug 14 (Bernama) -- Bursa Malaysia remained lower at midday as the market digested Malaysia’s second-quarter (2Q) gross domestic product (GDP) data, which showed 6.0 per cent growth.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 3.39 points to 1,731.32 from Thursday’s close of 1,734.71.
The benchmark index opened 0.01 of a point higher at 1,734.72, and fluctuated between 1,728.64 and 1,734.72 during the morning trading session.
On the broader market, losers outpaced gainers 572 to 394 while 532 counters were unchanged, 1,329 untraded and 29 suspended.
Turnover totalled 2.09 billion units worth RM1.14 billion.
Earlier, Bank Negara Malaysia (BNM) reported that the 2Q GDP perfomance exceeded the Department of Statistics Malaysia's (DOSM) advance estimate of 5.8 per cent.
It said the growth was driven by continued domestic demand and robust exports.
“Household spending was supported by steady income growth and ongoing policy support, while investment growth was underpinned by continued spending on structures and machinery and equipment,” it said in a statement today.
The central bank also said that on the external front, export growth had accelerated, driven mainly by the continued strength in electrical and electronic (E&E) products and sustained expansion in services, as well as the rebound in exports of liquefied natural gas and non-E&E manufacturing products.
On the local bourse, heavyweights Maybank was flat at RM10.60, while CIMB Group added three sen to RM7.98, IHH Healthcare gained 1.0 sen to RM8.28, Public Bank slid 1.0 sen to RM5.15, and Tenaga Nasional shed eight sen to RM14.42.
On the most active list, Key ASIC edged down half a sen to 7.5 sen, JAKS Resources inched up 1.5 sen to 10.5 sen, HHRG lost two sen to 13.5 sen, AHB Holdings was half a sen higher at five sen, and Kronologi Asia perked up 2.5 sen to 12.5 sen.
Of the top gainers, Ranhill Utilities jumped 21 sen to RM2.57, UWC increased 18 sen to RM6.73, Ideal Capital rose 17 sen to RM3.68, Hong Leong Industries and BLD Plantation put on 16 sen each to RM17.84 and RM15.00, respectively.
As for the top losers, Nestle dropped RM1.20 sen to RM102.30, Malaysian Pacific Industries gave up 56 sen to RM47.28, United Plantations slipped 28 sen to RM33.02, Gamuda erased 12 sen to RM4.40, and SD Guthrie fell nine sen to RM6.60.
On the index board, the FBM ACE Index advanced 25.06 points to 5,269.71, while the FBM Emas Index decreased 23.80 points to 12,834.75, and the FBMT 100 Index sank 23.86 points to 12,648.84.
The FBM Emas Shariah Index dipped 43.51 points to 12,651.47 and the FBM 70 Index declined 30.49 points to 18,299.72.
By sector, the Financial Services Index added 1.52 points to 20,358.54, while the Energy Index eased 7.40 points to 775.92, the Plantation Index slid 10.84 points to 9,362.82, and the Industrial Products and Services Index edged down 0.86 of a point to 188.62.
-- BERNAMA