Bursa Malaysia slightly lower at mid-morning

Of the actively-traded stocks, SMTrack went up one sen to 21.5 sen, Iskandar rose two sen to RM1.08 and Ekovest added half-a-sen to 8.5 sen, driven by market optimism over the possible revival of mega projects. — Reuters pic
Of the actively-traded stocks, SMTrack went up one sen to 21.5 sen, Iskandar rose two sen to RM1.08 and Ekovest added half-a-sen to 8.5 sen, driven by market optimism over the possible revival of mega projects. — Reuters pic

KUALA LUMPUR, June 27 — Shares on Bursa Malaysia were slightly lower at mid-afternoon as losses in mainly finance, healthcare and plantation heavyweight stocks, outweighed mild gains recorded elsewhere in the market.

At 11.05am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was down by 1.26 points to 1,673.23 as compared to yesterday's close of 1,674.49.

The index opened 3.76 points lower at 1,670.73.

Gainers beat losers slightly 258 to 255 with 334 counters unchanged, 1,058 untraded and 103 suspended.

Turnover stood at 598.62 million worth RM417.00 million.

Among heavyweights, IHH and Genting were two sen lower at RM5.75 and RM6.72 respectively, while PetChem went down four sen to RM8.38.

Hong Leong , HLFG and PPB Group lost six sen each to RM18.98, RM18.52 and RM18.52 respectively.

CIMB, RHB Bank and Public Bank were weaker by two sen each to RM5.36, 5.60 and RM23.00.

Of the actively-traded stocks, SMTrack went up one sen to 21.5 sen, Iskandar rose two sen to RM1.08 and Ekovest added half-a-sen to 8.5 sen, driven by market optimism over the possible revival of mega projects.

AllianceDBS said two key events unfolded in the second quarter 2019, which could pave the way for the recommencement of the Kuala Lumpur — Singapore high-speed rail (HSR) project in May 2020.

“Firstly, MyHSR Corp has called for a Technical Advisory Consultant (TAC) and a Commercial Advisory Consultant (CAC) tender.

“The second is revival of the Bandar Malaysia project. The revival would be timely for the construction sector as it will ensure a growth agenda during mid-term of the Pakatan Harapan government,” it said in a note.

The FBM Emas Index fell 5.14 points to 11,787.51, the FBMT 100 Index decreased 5.55 points to 11,641.18, while the FBM Emas Shariah Index improved 16.41 points to 12,143.03.

The FBM 70 edged higher by 5.95 points to 14,619.25, while the FBM Ace lost 15.13 points to 4,440.19.

Sector-wise, the Financial Services Index shed 44.34 points to 16,688.26, and the Industrial Products & Services Index slid 0.41 of-a-point to 160.36 and the Plantation Index eased 2.92 points to 6,970.06. — Bernama

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