KUALA LUMPUR, Sept 13 — Selling pressure in index-linked counters mainly Petronas Gas and Petronas Chemicals continued to put the pressure on the FBM KLCI at mid-day, despite gains on other Asian markets.
At noon-break, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.22 points to 1,597.78 compared to Thursday’s close of 1,601.0.
At the opening, the market barometre was 0.31 point lower at 1,600.69.
Some investors opted to stay on the sidelines following the current lack of impetus locally, while waiting for the US to follow the European Central Bank’s (ECB) move to cut its rate at the Federal Reserve meeting next Wednesday.
Of the heavyweights, Petronas Chemicals decreased eight sen to RM7.43 and Petronas Gas dropped four sen to RM16.22, amid the drop in crude oil prices, following the downward revision in Opec’s oil demand forecast and speculation that the US may ease sanctions on Iran.
Hong Leong Bank was 16 sen lower at RM16.32 and Sime Darby Plantation lost four sen to RM4.18.
Of the actives, Bumi Armada rose 1.5 sen to 29 sen, I-Stone gained two sen to 19.5 sen, Green Packet was flat at 25.5 sen and Vsolar went down one sen to 9.5 sen.
The FBM Emas Index contracted 9.01 points to 11,274.06, the FBMT100 Index decreased 18.61 points to 11,109.27 and the FBM Emas Shariah Index depreciated 25.24 points to 11,781.17.
The FBM Ace lost 33.60 points to 4,495.19 and the FBM 70 inched up 6.27 points to 13,919.39.
Sector-wise, the Financial Services Index fell 4.31 points to 15,546.08, the Plantation Index reduced 10.97 points to 6,791.34 and the Industrial Products and Services Index dropped 0.63 point to 152.26.
There were 283 gainers and 333 losers on Bursa Malaysia, while 360 counters remained unchanged, 1,003 untraded and 23 others suspended.
Turnover stood at 959.13 million units worth RM558.83 million. — Bernama