KUALA LUMPUR, Aug 7 ― Bursa Malaysia remained lower at mid-day today on persistent profit taking in most of the indices and in line with the downtrend in regional markets.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slid 4.37 points  or 0.27 per cent to 1,584.20 from 1,588.57 at yesterday's close.

The key index opened 1.97 points higher at 1,590.54 at 9 am and moved between 1,578.82 and 1,591.08 throughout the morning session.

Market breadth was negative, with losers outpacing gainers 650 to 426, while 350 counters were unchanged, 553 untraded and 25 others suspended.

Trading volume stood at 11.70 billion shares worth RM4.65 billion.

OANDA Asia Pacific senior market analyst Jeffrey Halley said despite the overnight upbeat Wall Street, Asia markets have been dominated by concerns over US politics today.

He said regional markets wilted under the deluge of US executive orders regarding Chinese companies this morning. A surge in Chinese exports announced today has also been lost in geopolitical noise.

"With the White House coming out swinging today, and China sure to riposte, equities markets will remain under pressure.

"We would expect the sell-off to gather pace as the day goes on, with investors reducing risk into what could be a fraught US session and event risk-heavy weekend,” he said in a note.

The Nikkei 225 has fallen 0.59 per cent ahead of a long weekend for Japan as investors there take risk off the table. Shanghai Composite was down 1.20 per cent, Hong Kong’s Hang Seng was 2.27 per cent lower, and Singapore’s Straits Times Index dipped 0.99 per cent.

Of the heavyweights, Maybank rose four sen to RM7.56, Top Glove gained six sen to RM28.46, Hartalega decreased 36 sen to RM19.44, and Public Bank dropped 24 sen to RM16.74.

Tenaga was flat at RM11.00 and IHH eased two sen to RM5.38.

Of the most active, Borneo Oil added two sen to seven sen, Pegasus improved half-a-sen to four sen and Niche climbed 23.5 sen to 46.5 sen.

For the top losers, Nestle eased RM2.40 to RM140.70, Adventa lost 50 sen to RM4.21 and Dutch Lady reduced 40 sen to RM39.00.

Among top gainers, Upa bagged 59 sen to RM3.29, Poh Kong improved 35 sen to RM1.74 and KSSC added 30 sen to 79 sen.

On the index board, the FBM Emas Index was down 42.22 points at 11,434.41, the FBM Emas Shariah Index was 51.52 points easier at 13,595.08 and the FBMT 100 Index weakened 38.76 points to 11,241.21.

The FBM 70 shed 82.02 points to 14,969.15 but the FBM ACE jumped 310.38 points to 10,833.55.

Sector-wise, the Industrial Products and Services Index increased 0.46 point to 142.21, the Financial Services Index fell 57.96 points to 12,935.24 and the Plantation Index declined 49.78 points to 7,022.42. ― Bernama