KUALA LUMPUR, Sept 25 — Bursa Malaysia remained in the negative territory at lunch break as losses in financial heavyweight stocks dragged down the index.
At 12.31pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.60 points to 1,587.73 from yesterday’s close of 1,592.33.
The index opened 0.19 of-a-point higher at 1,592.52.
Market breadth was negative as losers overwhelmed gainers 432 to 210 with 365 counters unchanged, 998 untraded and 23 others suspended.
Turnover stood at 1.21 billion shares worth RM758.42 million
Banking heavyweight led the losses with Maybank slipped three sen to RM8.62, Public Bank dropped six sen to RM20.04, CIMB Group dip one sen to RM5.03, Hong Leong Bank declined eight sen to RM16.28 and RHB eased four sen to RM5.58.
An analyst said spiking global uncertainties revolving around the latest round of US-Sino trade war had caused global economic slowdown, resulted in lower corporate earnings.
“The impact can now be seen clearly. If no strong measure is put in place, the local equity market will continue to trade sideways.
“The support level is now at 1,580 with the immediate resistance is at 1,590,” she said.
She also said that political instability in the US over impeachment proceeding against President Donald Trump has also rattled sentiment on the global market.
Of the active, MTAG, Ikhmas Jaya and Berjaya Land all shed 1.5 sen to 51.5 sen, 11 sen and 18 sen respectively, while Vsolar and Sapura Energy declined half-a-sen to 8 sen and 28.5 sen, respectively.
The FBM Emas Index declined 29.51 points to 11,222.82, the FBMT 100 Index dropped 27.03 points to 11,057.48 and the FBM Emas Shariah Index shed 28.87 points to 11,764.50.
The FBM 70 depreciated 13.54 points to 13,929.15 and the FBM Ace weakened 17.72 points to 4,542.17.
Sector-wise, the Financial Services Index dipped 51.68 points to 15,357.32, the Plantation Index was weaker by 19.75 points at 6,748.53 and the Industrial Products & Services Index was 0.19 points lower at 152.75. — Bernama
