KUALA LUMPUR, Aug 6 ― Bursa Malaysia was slightly lower at mid-morning as the mixed market sentiment continued to weigh on investors’ risk appetite.

At 11.04am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.09 points to 1,494.69 after fluctuating between 1,493.63 and 1,498.59.

Market breadth was weaker as losers outpaced gainers 397 versus 357, while 412 counters were unchanged, 1,027 untraded and 11 others suspended.

Turnover stood at 1.82 billion units worth RM743.47 million.

In a note today, Malacca Securities Sdn Bhd said the market sentiment should be recovering further after Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz announced that the hospitalisation rate would be used as a metric to ease curbs for states, instead of daily confirmed cases.

"That may give a little boost to the recovery theme in the near term.

"Meanwhile, bargain hunting activities might push the key index towards the 1,500 level, with the next resistance level set at 1,520, while the support level is around 1,480,” it said.

On sectors in focus, the research house said the positive sentiment in the Nasdaq might continue to spillover to the local technology stocks.

Additionally, investors may pay more attention to the recovery theme stocks as the relaxation of standard operating procedures for fully vaccinated citizens may be announced soon, it said.

"Transportation and logistics, building materials, construction as well as services industries may see higher trading interest,” it added.

Of the heavyweights, Maybank trimmed two sen to RM8.02, Petronas Chemicals slipped one sen to RM7.99, Tenaga gave up four sen for RM9.68, CIMB shed three sen to RM4.52, while Public Bank was flat at RM3.96.

IHH, however, gained one sen to RM5.73.

Among the actives, Kanger, Encorp and QES inched down half-a-sen each to 6.0 sen, 32 sen and 88.5 sen, respectively, while Focus was flat at 4.0 sen.

On the index board, the FBM Emas Index was 3.52 points easier at 10,977.22, the FBMT 100 Index shed 7.35 points to 10,687.43, the FBM 70 contracted 8.43 points to 14,548.56, the FBM Emas Shariah Index fell 10.68 points to 12,058.05, while the FBM ACE rose 9.22 points to 7,181.54.

Sector-wise, the Financial Services Index lost 13.51 points to 14,743.34, while the Plantation Index bagged 7.7 points to 6,105.62 and the Industrial Products and Services Index added 0.17 of-a-point to 188.21. ― Bernama