KUALA LUMPUR, Oct 2 ― Bursa Malaysia extended its slide at mid-morning today on continued profit-taking amid lack of buying interest in the broader market, dealers said.
At 11.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.66 points to 1,581.78 from 1,589.44 yesterday.
The index opened 0.59 of-a-point easier at 1,588.85.
Losers led gainers 397 to 182, while 315 counters were unchanged, 1,065 untraded and 19 others suspended.
Turnover amounted to 687.50 million shares worth RM364.66 million.
A dealer said the local bourse was also tracking the performance of regional peers that may have been impacted by Wall Street’s lacklustre performance following the release of the United States (US) factory activity.
The US factory activity in September fell to its weakest in over a decade, triggering concern among investors that the effect from the US-China trade war had began spreading to the US economy.
On the local front, Maybank IB Research said investors could be focusing on construction sector ahead of the Budget 2020 tabling on October 11.
“Technically, we expect the FBM KLCI to continue to range between 1,580 and 1,600 today. Downside supports are at 1,580 and 1,570,” it said in a research note today.
Among heavyweights, Maybank and PChem fell four sen each to RM8.57 and RM7.47 respectively, Tenaga eased 10 sen to RM13.60, Public Bank dropped 20 sen to RM19.80 while IHH gained two sen to RM5.70.
Of the most actives, Vivocom was flat at 1.5 sen, while Armada and Sapura Energy shed half-a-sen each to 31.5 sen and 27 sen respectively.
The FBM Emas Index slipped 48.28 points to 11,187.73, the FBMT 100 Index down 46.93 points to 11,020.37 and the FBM Emas Shariah Index slid 41.52 points to 11,760.38.
The FBM 70 depreciated 32.57 to 13,900.42 and the FBM Ace erased 4.57 points to 4,527.25.
Sector-wise, the Financial Services Index decreased 81.86 points to 15,284.60, the Plantation Index declined 24.50 points to 6,746.24 and the Industrial Products & Services Index was 0.25 of-a-point weaker at 152.95. ― Bernama
