Bursa Malaysia ends morning session mixed

Bursa Malaysia ended the morning session mixed on cautious trading. — Bernama pic
Bursa Malaysia ended the morning session mixed on cautious trading. — Bernama pic

KUALA LUMPUR, June 17 — Bursa Malaysia ended the morning session mixed on cautious trading, ahead of the US Federal Reserve (Fed) meeting.

A dealer said investors were focused on the two-day meeting, beginning tomorrow.

“The Fed is likely to cut interest rates on mounting concerns over the the health of the global economy, especially with pressure coming from the US-China trade conflict.

At 12.30pm, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.03 points higher at 1,642.66 from Friday’s close of 1,638.63, after opening 0.3 of-a-point better at 1,638.93.

The index moved between 1,637.46 and 1,644.04 throughout the morning session.

Market breadth was negative as losers led gainers 391 to 244, while 331 counters were unchanged, 914 untraded and 34 others suspended.

Turnover stood at 928.14 million units worth RM547.45 million.

A dealer said the FBM KLCI was easier this morning but turned positive at mid-morning and remained so until mid-day.

Buying in heavyweights, led by Tenaga, IOI, Genting Malaysia, Nestle and Petronas Gas contributed 7.13 points to the fall of the composite index.

Among heavyweights, Maybank and Public Bank were each flat at RM8.96 and RM23.12 respectively, while CIMB slipped three sen to RM5.25 and IHH was one sen weaker at RM5.62.

Of the actively-traded stocks, Ekovest rose one sen to 84 sen, Lambo gained half-a-sen to 6.5 sen, while Bumi Armada was flat at 20.5 sen.

The FBM Emas Index gained 6.42 points to 11,571.07, the FBMT 100 Index increased 9.43 points to 11,421.94 and the FBM Emas Shariah Index bagged 22.48 points to 11,810.72.

 The FBM Ace fell 24.34 points to 4,363.20 and the FBM 70 dropped 63.67 points to 14,317.36.

Sector-wise, the Financial Services Index was 44.33 points lower at 16,687.14, the Industrial Products & Services Index lost 0.6 of-a-point to 159.75, but the Plantation Index edged up 9.53 points to 6,880.61. — Bernama

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