Bursa Malaysia remains lower at mid-afternoon

Overall market was negative with 425 losers to 319 advancers, while 411 counters were unchanged, 690 untraded and 19 others suspended.— Picture by Azneal Ishak
Overall market was negative with 425 losers to 319 advancers, while 411 counters were unchanged, 690 untraded and 19 others suspended.— Picture by Azneal Ishak

KUALA LUMPUR, July 16 — Share prices on Bursa Malaysia continued their downtrend in mid-afternoon trade, weighed down by selling in finance and telco counters as well as lack of a fresh catalyst.

At 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.90 points lower at 1,668.47 from 1,672.37 at Monday’s close.

It opened 0.88 of-a-point easier at 1,671.49 today.

Overall market was negative with 425 losers to 319 advancers, while 411 counters were unchanged, 690 untraded and 19 others suspended.

Turnover stood at 2.04 billion units worth RM1.12 billion.

A dealer said investors are waiting for fresh leads in determining market direction.

“They are waiting for US corporate earnings reports which are currently on-going and most of them await the release of US retail sales data to measure the health of the world’s biggest economy ahead of a likely US rate cut this month,” he said.

Index-linked telcos, Maxis and Digi, declined six sen to RM5.62 and RM4.99, respectively, and Axiata shed three sen to RM5.16.

Among finance counters, Maybank and CIMB, were both down one sen at RM8.89 and RM5.17, respectively; Hong Leong Bank and Hong Leong Financial Group fell four sen each to RM18.56 and RM18.72, respectively; and RHB slipped two sen to RM5.74.

Of the losers, TNB fell 10 sen to RM13.78, Nestle eased three sen to RM147.70, F&N declined 24 sen to RM34.24, KLK erased 18 sen to RM24.02 and Vitrox lost 13 sen to RM6.90.

The FBM Emas Index was down 17.16 points at 11,850.27 and the FBMT 100 Index dropped 17.05 points to 11,673.85

The FBM Emas Shariah Index was 24.93 points weaker at 12,245.70 and the FBM Ace was down 0.63 of-a-point to 4,695.01, but the FBM 70 rose 19.63 points to 14,928.47.

Sector-wise, the Financial Services Index fell 17.03 points to 16,618.49, the Plantation Index shed 11.80 points to 6,889.62 and the Industrial Products & Services Index was 0.50 of-a-point weaker at 160.36. — Bernama