KUALA LUMPUR, June 15 — Shares on Bursa Malaysia continued to trend lower at mid-morning today, weighed on by losses in selected blue chips, dealers said.
At 11.02 am, the key index stood at 1,733.64, down 0.73 of a point from yesterday’s close.
Topping the losers list was British American Tobacco which shed 60 sen to RM59.24.
Among the top losers were KESM which lost 20 sen to RM3.69, Felda Global Ventures, Central Industrial Corporation and P.I.E Industrial in losing 17 sen each to RM1.69, RM1.69 and RM6 respectively.
Market breadth was negative as losers thumped gainers 484 to 144, while 244 counters were unchanged, 941 untraded and 13 others suspended.
Turnover stood at 531.23 million shares worth RM326.11 million.
In a research note, Kenanga Research said the local market had been sluggish over the past few months, while rebounds were merely technical in nature.
It said shares on Bursa Malaysia had been in oversold territory, where it could potentially find a footing at this level, in preparation for a rebound.
The market is expected to trade in the 1,725 to 1,750 range and with strong support at 1,705, Kenanga added.
On the scoreboard, the FBM Emas Index lost 22.80 points to 11,999.67, the FBMT100 Index decreased 17.30 points to 11,689.74, and the FBM Emas Shariah Index shed 17.50 points to 12,529.72.
The FBM 70 lost 66.61 points to 13,169.47 and the FBM Ace declined 132.34 points to 6,158.37.
On a sectoral basis, the Industrial Index depreciated shed 3.52 points to 3,193.04 and the Plantation Index dropped 52.92 points to 7,313.96, while the Finance Index increased 22.93 points to 15,553.04.
Of the heavyweights, Sapura Kencana lost 11 sen to RM2.48, CIMB and Genting were down two sen each to RM5.35 and RM8.33 respectively, and Astro slipped three sen to RM3.
Among actives, Asia Media and Frontken fell 1.5 sen each to three sen and 23 sen respectively, as IFCA MSC lost 12 sen to RM1.
Spring Gallery added half-a-sen to 68 sen and Xinghe was flat at 7.5 sen. — Bernama
