KUALA LUMPUR, Aug 2 — Bursa Malaysia remained negative at mid-day on lack of impetus to boost the market and in line with its regional peers as sentiment remained tepid, said a dealer.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.61 points to 1,659.62, after fluctuating between 1,657.78 and 1,665.17 throughout the morning session.
It had closed at 1,665.23 yesterday.
There were 420 losers and 207 gainers, with 330 counters unchanged, 721 untraded and 19 others suspended.
Turnover stood at 777.63 million shares worth RM616.05 million.
Selling was mostly spotted in blue-chips and selected heavyweights, especially oil and gas-related stocks Petronas Chemicals, SapuraKencana and Petronas Gas.
Inter-Pacific Research Sdn Bhd Head of Research Pong Teng Siew said although oil prices edged up after US crude broke below US$40 per barrel in the previous session, market players were still cautious over excess production.
“Although oil prices rebounded earlier, the recovery has not changed much, hence it doesn’t impact much on the local and regional markets, and traders are taking the cue from there.
“The market remained easier as profit-taking emerged after yesterday’s gains,” he told Bernama, adding that markets are still waiting for more stimulus.
Brent crude oil was up by 20 cents to US$42.34 per barrel from their last close.
Regionally, Japan’s Nikkei 225 reduced 0.80 per cent to 16,503.12 and Singapore’s Straits Times decreased by 0.97 per cent to 2,864.35.
The FBM Emas Index reduced 40.84 points to 11,628.62, the FBM Emas Shariah Index decreased 46.44 points to 12,225.65 and the FBMT100 Index reduced 39.47 points to 11,331.03.
The FBM 70 was 50.44 points down to 13,276.13 and the FBM Ace contracted 65.67 points to 5,424.84.
Sector-wise, the Finance Index weakened 29.16 points to 14,254.33, the Industrial Index gave up 12.35 points to 3,106.70 and the Plantation Index was 34.83 points easier at 7,558.47.
Of the heavyweights, TNB added two sen to RM14.40, Maybank eased one sen to RM8.02 and Public Bank gained eight sen to RM19.76.
Petronas Chemicals reduced six sen to RM6.58, Axita lost four sen to RM5.70 and Sime Darby erased eight sen to RM7.52. IHH Healthcare was flat at RM6.56.
Among losers, Panasonic Manufacturing slipped RM1.22 to RM37.90, Lay Hong fell 30 sen to RM8.50, AEON Credit decreased 24 sen to RM13.94, Sam Engineering & Equipment shed 16 sen to RM7.26 and KLK gave up 12 sen to RM23.08. — Bernama
