KUALA LUMPUR, Sept 8 ― Bursa Malaysia remained lower at midmorning amid weaker regional market sentiment, as concern over the latest economic development resulted in investors staying on the sideline, dealers said.

At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.39 points to 1,455.68 from 1,460.07 at yesterday’s close after opening 0.53 of a point easier at 1,459.54.

In the broader market, decliners led advancers 413 to 250, with 388 counters unchanged, 1,272 untraded and seven others suspended.

Turnover stood at 1.03 billion units worth RM586.38 million.

In a note, Public Investment Bank Bhd said the FBM KLCI might open softer after a drop in Apple’s shares overnight pulled US stock indices lower on Thursday as news that China would broaden a ban on the use of iPhones helped push the tech giant’s market capitalisation wipeout over the past two sessions to nearly US$200 billion (RM935 billion).

"Wall Street’s benchmark S&P 500 fell 0.3 per cent, and the technology-focused Nasdaq Composite declined 0.9 per cent, extending losses from the previous trading session.

"Apple shares closed 2.9 per cent lower on Thursday, pushing their decline since Tuesday’s closing bell to 6.4 per cent in one of their steepest two-day sell-offs this year,” it said.

Among the Bursa Malaysia heavyweights, Maybank and Public Bank slipped 2.0 sen each to RM9.15 and RM4.23, respectively, CIMB fell 5.0 sen to RM5.69, while Petronas Chemicals added 1.0 sen to RM7.18 and Tenaga Nasional went up 2.0 sen to RM9.89.

Of the actives, Classita shed 1.5 sen to 6.5 sen, JAKS Resources trimmed 1.0 sen to 20.5 sen, while Widad Group advanced 1.0 sen to 47.5 sen, and YTL Corp gained 5.0 sen to RM1.53.

On the index board, the FBMT 100 Index decreased 36.06 points to 10,411.48 and the FBM 70 Index gave up 68.69 points to 14,169.0, while the FBM Emas Index was 39.25 points easier at 10,735.55, the FBM Emas Shariah Index decreased 46.46 points to 10,903.58 and the FBM ACE Index slipped 28.29 points to 5,160.28.

Sector-wise, the Financial Services Index fell 60.87 points to 16,411.33, and the Plantation Index went down 25.59 points to 6,873.36, the Energy Index shed 3.31 points to 861.18 and the Industrial Products and Services Index slipped 0.34 of a point to 172.37. ― Bernama