Bursa broadly lower at mid-morning

Turnover stood at 1.16 billion units worth RM732.62 million. — Picture by Hari Anggara
Turnover stood at 1.16 billion units worth RM732.62 million. — Picture by Hari Anggara

KUALA LUMPUR, July 31 — Bursa Malaysia was broadly lower at mid-morning with risk appetite weighed on by fading hopes of a resolution to the US-China trade war and ahead of a decision on a interest rate cut the US Federal Reserve tomorrow.

At 11.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 11.64 points to 1,631.05 from Monday’s close of 1,642.69.

The downtrend was mainly due to selling in index-linked counters, led by Public Bank at 3.944 points of the composite index.

The bank’s stock fell 58 sen to RM21.62 with 2.31 million shares changing hands amid the sentiment surrounding the lawsuit filed by National Feedlot Corporation, over the leak of the company’s bank account details.The suit was dismissed by the High Court on July 29.

In line with the performance of global equities, the overall market breadth on Bursa Malaysia was dour reflecting by the 520 losers to 168 gainers, while 331 counters remained unchanged, 921 untraded and 74 others suspended.

Turnover stood at 1.16 billion units worth RM732.62 million.

Among heavyweights, Maybank eased four sen to RM8.69, Petronas Chemicals trimmed 11 sen to RM7.46, while IHH Healthcare and CIMB slipped one sen each to RM5.74 and RM5.08 respectively.

Tenaga, which is enroute to an internal reorganisation, rose 22 sen to RM13.84.

Of the active stocks during trading, KNM inched down half-a-sen to 41 sen, Bumi Armada was flat at 23 sen, while Priceworth and Vsolar added half-a-sen each to 7.5 sen and 21 sen.

The FBM Emas Index contracted 84.72 points to 11,574.36, the FBMT 100 Index depreciated 84.41 points to 11,396.74, and the FBM Ace trimmed 21.43 points to 4,713.47.

The FBM Emas Shariah Index lost 43.84 points to 12,008.14, while the FBM 70 eased 120.23 points to 14,511.8.

Sector-wise, the Financial Services Index gave up 191.27 points to 14,511.8, the Industrial Products and Services Index slid 1.23 points to 154.28 and the Plantation Index fell 45.59 points to 6,766.89. — Bernama

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