Bursa Malaysia ends morning session lower

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) retreated 5.66 points to 1,685.34 from yesterday’s closing of 1,691.0. — Bernama pic
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) retreated 5.66 points to 1,685.34 from yesterday’s closing of 1,691.0. — Bernama pic

KUALA LUMPUR, July 3 ― Bursa Malaysia ended the morning session lower, dragged by persistent selling in most banking heavyweights amid profit-taking.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) retreated 5.66 points to 1,685.34 from yesterday’s closing of 1,691.0.

The index moved between 1,683.82 and 1,689.71 in the morning session.

Market breadth stayed negative with 399 losers to 283 gainers, while 391 counters remained unchanged, 767 untraded and 19 others suspended.

Turnover stood at 1.82 billion units worth RM742.54 million. 

As at mid-day today, five out of seven finance-linked heavyweights, except Hong Leong Financial and Public Bank, were in the red, with CIMB suffering the biggest loss of 1.47 per cent or eight sen to RM5.36.

This was followed by RHB, declining 0.86 per cent to RM5.74, Hong Leong Bank slid 0.73 per cent to RM19.00, AMMB erased 0.46 per cent to RM4.37 and Maybank was 0.22 per cent weaker at RM8.96.

Hong Leong Financial picked up four sen to RM18.70 while Public Bank was unchanged at RM23.00.  

Meanwhile, Malacca Securities Sdn Bhd in a note today said following the recent gains which saw key benchmark closed at nearly four-month high yesterday, the mixed conditions are dominating with the FBM Small Cap still seeing the firm following, while FBM ACE and Fledgling indices are headed the opposite direction.

“The recent gains have also resulted in the FBM Small Cap index pushing into the overbought zone, and a retreat is in store as market players could take some of their recent gains off the table,” it said, adding that at the same time, market participation is also thinning, which could result in further profit-taking activities.

Of actives, Sumatec added two sen to three sen, KNM, Borneo Oil and Barakah inched up half-a-sen each at 30.5 sen, five sen and 5.5 sen respectively, while Sapura Energy was unchanged at 30.5 sen.

Carlsberg led the losers list, erasing 42 sen to RM25.54, while KESM was the top gainer, putting on 28 sen to RM7.42.

The FBM Emas Index slid 27.14 points to 11,913.61, the FBMT 100 Index trimmed 29.22 points to 11,754.85 and the FBM Emas Shariah Index was 17.56 lower at 12,301.20.

The FBM 70, however, improved 4.75 points to 14,881.89 and the FBM Ace climbed 29.69 points to 4,552.58.

Sector-wise, the Financial Services Index contracted 63.09 points to 16,786.22 and the Industrial Products & Services Index slipped 0.49 of-a-point to 162.52.

But, the Plantation Index gained 3.19 points to 6,944.06. ― Bernama