KUALA LUMPUR, July 22 ― Share prices on Bursa Malaysia remained in negative territory in mid-afternoon trade, dragged down by continuous selling of heavyweights mainly in the finance, industrial products and services and plantation counters.

For plantation counters, Sime Darby fell four sen to RM4.63, KLK lost 24 sen to RM23.66 and IOI was three sen weaker at RM4.20.

A dealer said Malaysian palm oil exports are expected to be lower if the world’s number one consumer for the commodity, India, considers an import duty hike for the refined palm oil.

At 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.95 points lower at 1,652.24.

The overall market was negative with 496 losers and 271 gainers, while 352 counters were unchanged, 770 untraded and 18 others suspended.

Turnover stood at 1.89 billion units worth RM853.27 million. 

Among heavyweights, Maybank and Tenaga fell two sen each to RM8.85 and RM13.62 respectively, PetChem declined five sen to RM7.76 while Public Bank was two sen better at RM22.90.

Among top losers, BAT depreciated 50 sen to RM29.94 and F&N lost 24 sen to RM34.24.

 The FBM Emas Index erased 40.06 points to 11,750.16, while the FBMT 100 Index was 38.49 points weaker at 11,577.76.

The FBM Emas Shariah Index dropped 43.92 points to 12,120.94, the FBM 70 eased 36.47 points to 14,876.56 but the FBM Ace was 33.43 points higher at 4,708.40.

Sector-wise, the Financial Services Index reduced 66.13 points to 16,529.75, the Plantation Index was 52.89 points lower at 6,761.11 and the Industrial Products & Services Index inched down 0.59 point to 156.22. ― Bernama