KUALA LUMPUR, Oct 23 — Bursa Malaysia extended its slide to finish the morning session lower today on persistent selling in index-linked counters due to the lack of fresh leads, said a dealer.
However, he said the local bourse was still supported by buying interest in the lower liners and broader market shares, particularly from the retail investors.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 9.17 points lower at 1,564.92 from yesterday's close of 1,574.09.
After opening 2.43 points lower at 1,571.66, the index moved between 1,564.56 and 1,573.23 throughout the morning session.
Market breadth was negative with losers edging gainers 389 to 284, while 382 counters were unchanged, 962 untraded and 35 others suspended.
Turnover amounted to 1.51 billion shares worth RM815.65 million.
According to Malacca Securities Sdn Bhd, the lower liners and broader market shares would continue to attract substantive retail following amid the ongoing rotational activities.
“However, we also think that gains will be measured due to the generally overbought conditions that could prompt increased profit-taking activities,” it said.
The FBM Ace advanced 15.20 points to 4,860.09 and the FTSE Bursa Malaysia Small Cap Index (FBMSCAP) increased 38.42 points to 14,788.52.
In contrast, the FBM 70 trimmed 38.12 points to 14,055.31 and the FBMT 100 Index declined 55.97 points to 10,959.26, the FBM Emas Index dropped 54.69 points to 11,147.69 and the FBM Emas Shariah Index was 50.41 points weaker at 11,778.42.
Sector-wise, the Financial Services Index gave up 93.18 points to 15,156.19, the Industrial Products & Services Index slid 0.50 point to 152.54 and the Plantation Index lost 48.60 points to 6,575.10.
Among heavyweights, Hong Leong Financial erased 32 sen to RM16.70, Tenaga lost 18 sen to RM13.62, Public Bank was 20 sen lower at RM19.10, Sime Darby Plantation went down five sen to RM4.70, Petronas Chemicals declined four sen to RM7.38. Hong Leong Financial was also the top loser on the local bourse, followed by BAT which declined 26 sen to RM19.48 while Ayer shed 20 sen to RM3.80.
Of the most actively traded shares, Bumi Armada perked three sen to 43 sen, Velesto climbed 2.5 sen to 35.5 sen and its warrant improved 2.5 sen to 15 sen, Sapura Energy bagged one sen to 27 sen and its warrant was half-a-sen firmer at 12.5 sen. — Bernama