KUALA LUMPUR, Oct 2 ― Bursa Malaysia remained in the red territory at mid-day today on continued profit-taking in the broader market, weighed down by the negative sentiment from a weak US manufacturing data in September, dealers said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.6 per cent or 9.40 points to 1,580.04 from 1,589.44 yesterday.
The index opened 0.59 of-a-point easier at 1,588.50, moving between 1,579.39 and 1,589.06 throughout the morning session.
The broader market was bleak as losers outpaced gainers 457 to 204, while 358 counters were unchanged, 940 untraded and 19 others suspended.
Turnover amounted to 957.99 million shares worth RM582.55 million.
An analyst said investors were in a bad day due to concerns over the release of a weak US economic data coupled with the closing of the Chinese market as the country celebrated the 70th anniversary of the founding of the People’s Republic of China.
Meanwhile, Public Investment Bank Bhd said the FBM KLCI is anticipated to trend sideways within the 1,580 and 1,600 marks for the rest of the week.
“It will see a decisive bullish turnaround only if the benchmark index manages to remain above its psychological level of 1,600 in the near term. Support levels for the index are at 1515, 1554 and 1580, while the resistance levels are at 1600, 1622 and 1636,” it said in a research note today.
Among heavyweights, Maybank gave up four sen to RM8.55, Tenaga lost eight sen to RM13.62, Public Bank declined 20 sen to RM19.80, PChem down five sen to RM7.46 and IHH eased one sen to RM5.67.
Of the most actives, Vsolar added one sen to 8.5 sen, Armada slipped half-a-sen to 31.5 sen while Vivocom was flat at 1.5 sen.
The FBM Emas Index fell 60.14 points to 11,175.88, the FBMT 100 Index dropped 58.56 points to 11,008.73 and the FBM Emas Shariah Index weakened 54.70 points to 11,747.20.
The FBM 70 depreciated 45.39 points to 13,887.60 but the FBM Ace rose 3.40 points to 4,535.22.
Sector-wise, the Financial Services Index shed 97.89 points to 15,268.57, the Plantation Index erased 34.15 points to 6,736.59 and the Industrial Products & Services Index was 0.50 of-a-point easier at 152.70. ― Bernama
