KUALA LUMPUR, Sept 20 — Bursa Malaysia extended its losses to mid-day today on selling pressure in selected heavyweights, especially those related to plantation and telecommunication counters, said a dealer.
At noon, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.16 points to 1,591.12 from yesterday’s close of 1,596.28 after moving between 1,590.48 and 1,597.61 throughout the morning session.
The index opened 1.33 points better at 1,597.61.
Market breadth was negative as losers edged winners 383 to 237 with 395 counters unchanged, 972 untraded and 18 others suspended.
Turnover stood at 1.33 billion shares worth RM893.42 million.
However, Maybank which led the key index-linked has capped the index from trading further low, increasing five sen to RM8.69.
Investors according to an analyst seem to cash in on profits amid the bearish sentiment due to the global economic slowdown following the intensifying trade conflicts.
“Continued weak sentiment has curbed investors’ risk appetite and this may seem to prolong if there are no fresh catalyst from domestic and external sentiments for market direction,” he said.
Regionally, Japan’s Nikkei 225 adding 0.37 per cent to 22,124.92, while Hong Kong’s Hang Seng improving 0.03 per cent to 26,477.11 and Singapore’s Straits Times Index gaining 0.05 per cent to 3,160.23.
Malacca Securities Sdn Bhd said the FBM Small Cap stocks were also on a drifting mode as retail interest on the broader market has waned with the fewer leads.
“The lower liners, in the likes of the FBM ACE and FBM Fledgling stocks, are also seeing lesser following and the drifting mode is set to prolong, in our view,” it said in a note today.
Of the top losers, KL Kepong lost 64 sen to RM22.76, Nestle decreased 60 sen to RM145.20, Nestle eased 40 sen to RM145.40, Petronas Dagangan erased 28 sen to RM23.18 and Digi deducted eight sen to RM4.68.
Among heavyweights, Public Bank lost four sen to RM20.12, TNB rose two sen to RM13.64 and IHH Healthcare increased three sen to RM5.68.
The FBM Emas Index declined 29.15 points to 11,247.44, the FBMT 100 Index dropped 29.71 points to 11,079.73 and the FBM Emas Shariah Index shed 48.06 points to 11,784.11.
The FBM 70 depreciated 11.64 points to 13,951.79 but the FBM Ace rose 8.21 points to 4,533.75.
Sector-wise, the Financial Services Index rose 17.82 points to 15,440.91, the Plantation Index weaker by 51.01 points to 6,735.11 and the Industrial Products & Services Index was 0.55 of-a-point lower at 153.82. ― Bernama
