KUALA LUMPUR, April 25 — Bursa Malaysia stayed lower at mid-day on continued profit-taking in most index-linked counters, weighed down by investors’ fears over slowing global economic growth and declining oil prices, dealers said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.17 per cent or 2.83 points weaker at 1,635.18, from Wednesday's close of 1,637.81.
The benchmark index opened 0.67 point easier at 1,637.34 and moved between 1,632.51 and 1,640.13 throughout the morning session.
On the broader market, losers led gainers 414 to 328, while 401 counters were unchanged, 761 untraded and 27 others suspended.
Turnover stood at 2.21 billion shares worth RM1.25 billion.
SPI Asset Management managing partner and head of trading Stephen Innes said although US stocks have stabilised near record all-time highs, positive earnings surprises continue to resonate.
“Investors were dealt with another economic reality check as financial data from Europe remains as poor as ever, this despite a chorus of global central banks stimulus.
“The weak European Union economy is perhaps raising some doubts as investors spent most of the day in self-analysis mode while taking stock of their stocks,” said Innes.
Meanwhile, benchmark Brent crude eased 0.01 per cent to US$73.85 (RM304.67) per barrel at 23.58pm Central Daylight Time (CDT).
On Bursa Malaysia, heavyweight stocks Maybank, Public Bank and Petronas Chemicals were flat at RM9.14, RM22.64 and RM9.03 respectively.
Tenaga fell 18 sen to RM12.16 and CIMB eased six sen to RM5.19.
For the most active counters, Bumi Armada shed 2.5 sen to 24.5 sen, Ekovest gained five sen to 98.5 sen and IWCity rose three sen to RM1.122 sen.
Among top losers, Nestle dipped RM1.30 to RM145.70, BAT decreased 50 sen to RM36.10 and Carlsberg shed 48 sen to RM24.22.
The FBM Emas Index slipped 14.72 points to 11,650.39, the FBMT 100 Index was 17.02 points lower at 11,458.50 and the FBM Emas Shariah Index was down 14.70 points at 11,863.14.
The FBM 70 fell 10.78 points to 14,721.98 and the FBM Ace was lower by 13.28 points at 4,776.03.
Sector-wise, the Financial Services Index eased 18.28 points to 16,865.39, the Plantation Index was 4.68 points lower at 7,260.68 but the Industrial Products & Services Index was 0.04 point better at 171.46. — Bernama
