KUALA LUMPUR, Oct 10 — Bursa Malaysia gave up earlier gains to end mid-day lower despite a better external regional performance, said a dealer.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 1.08 points to 1,550.15 from 1,551.23 at Wednesday’s close.
The benchmark index opened 0.53 of-a-point weaker at 1,550.7 and moved between 1,549.2 and 1,553.18 throughout the morning session.
On the broader market, losers led gainers 357 to 262 with 913 counters were unchanged, 478 untraded and 30 others suspended.
Turnover amounted to 1.24 billion shares worth RM606.28 million.
Regional peers saw a better performance as Japan’s Nikkei improved 0.18 per cent to 21,494.43, Hong Kong’s Hang Seng Index increased 0.18 per cent to 25,729.16 while Indonesia’s Jakarta Composite Index rose 0.09 per cent to 6,034.6.
Malacca Securities Sdn Bhd said the insipid market conditions were also sending more market players to the sidelines with market participation waning once again.
“Under the prevailing environment, we see the selling spree likely to persist over the near term as sentiments remain frail,” it said.
The research firm expected the key index to waver again and could well breach the 1,550 level to potentially head towards the next support of the 1,548 level.
“Thereafter, the supports are located at 1,532 and 1,520 levels — the latter was last seen in early 2012,” it said.
On the other hand, it said the resistances were at the 1,555 and 1,560 levels respectively.
Among heavyweights, Maybank rose one sen to RM8.39, while Tenaga, PBBank and Hong Leong Bank improved two sen each to RM13.62, RM19.14 and RM16.12.
Meanwhile, PChem and IHH declined four sen to RM7.16 and RM5.63, respectively.
Of the most actives, Netx Holdings, Sapura Energy, Sanichi Technology and AT Systematization were flat at 1.5 sen, 26 sen, five sen and 6.5 sen, respectively.
The FBM Emas Index declined 2.29 points to 11,008.66, the FBMT 100 Index decreased 2.43 points to 10,829.8 but the FBM Emas Shariah Index improved 1.97 points to 11,621.17.
The FBM 70 appreciated 18.02 points to 13,782.72 and the FBM Ace rose 6.72 points to 4,595.7.
Sector-wise, the Financial Services Index inched up 5.08 points to 14,938.73, the Plantation Index gained 5.57 points to 6,544.73 while the Industrial Products & Services Index was 0.47 of a point weaker at 149.5. — Bernama
