Bursa ends morning session lower

Malaysia's latest economic growth data had minimal impact on Bursa Malaysia as trading stayed in a tight range after opening slightly weaker. — Reuters pic
Malaysia's latest economic growth data had minimal impact on Bursa Malaysia as trading stayed in a tight range after opening slightly weaker. — Reuters pic

KUALA LUMPUR, May 16 — Bursa Malaysia ended the morning’s trading lower on selling, as traders sought to lock in profits.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.41 points to 1,609.02, after opening 2.21 points weaker at 1,609.22 from yesterday 1,611.43.

Losers outpaced gainers 402 to 226 with 316 counters unchanged, 967 untraded and 23 others suspended.

Turnover stood at 1.13 billion shares worth RM733.13 million.

Malaysia’s latest economic growth data had minimal impact on the equity market as it was already priced in, said an analyst.

He said worries about US-China trade tensions continued to weigh on investor sentiment after President Donald Trump declared a national emergency over threats against US technology.

This comes amid the campaign against global ICT solutions provider, Huawei.

Among the heavyweights, Maxis bagged two sen to RM5.34 and Public Bank rose two sen to RM22.50.

Petronas Gas and Petronas Dagangan continued to benefit from the rally in oil prices, gaining two sen and six sen to RM16.66 and RM24.46 respectively.

Of the actively-traded stocks, newly-listed Leong Hup International increased two sen to RM1.12, Vortex was up one sen to 28.5 sen and Lambo was half-a-sen lower at seven sen.

The FBM Emas Index lost 13.94 points to 11,339.23, the FBMT 100 Index fell 12.46 points to 11,174.43 and the FBM Emas Shariah Index slid 19.23 points to 11,506.49.

The FBM 70 rose 1.77 points to 13,951.91 and the FBM Ace was 42.49 points lower at 4,406.00.

Sector-wise, the Financial Services Index increased 3.71 points to 16,582.50, the Plantation Index declined 18.29 points to 6,914.30 and the Industrial Products & Services Index was 0.11 of-a-point lower at 164.40. — Bernama

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