KUALA LUMPUR, Nov 19 ― Bursa Malaysia turned bearish at mid-morning today in paring earlier gains, while dragged down by mild profit-taking in selected blue chips.
At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.06 points lower at 1,703.32, after opening 6.43 points stronger at 1,712.81.
The index closed at 1,706.38 on last Friday.
Losers in the composite index component stocks were led by Malaysia’s leading cellular telephone provider Telekom Malaysia Bhd (TM), after its acting group chief executive officer Datuk Bazlan Osman resigned from his role, effective immediately.
TM’s shares fell 12 sen to RM2.26, with 7.31 million shares traded.
Bazlan, 54, who was appointed to the post in June following the departure of Datuk Seri Mohammed Shazalli Ramly, will however remain as the company’s executive director until Feb 28, 2019 as part of a transition deal.
It was reported that TM is at risk of finding itself out of the FBM KLCI when the constituents of the index are reviewed next.
The FBM Emas Index slid 17.23 points to 11,850.82, the FBMT100 Index dipped 17.31 points to 11,690.03 and the FBM Emas Shariah Index lost 8.47 points for 11,947.32.
The FBM Ace rose 12.69 points to 4,957.81, while the FBM 70 declined 6.39 points to 13,982.31.
The Finance Index lost 6.68 points to 17,294.99 but the Plantation Index deducted 8.22 points to 7,248.42 and the Industrial Index increased 0.41 point to 174.42.
On the broader market, losers outpaced gainers 322 to 241, with 296 counters unchanged, 1,021 counters untraded and 31 others suspended.
Turnover stood at 615.19 million shares worth RM383.52 million.
Among actives, Orion IXL and TATT Giap edged up half-a-sen each to 10.5 sen and 24 sen respectively, while MYEG gained three sen to RM1.16. ― Bernama
