KUALA LUMPUR, Dec 20 ― Bursa Malaysia ended its morning session lower on extended profit-taking in selected index-linked counters led by financial services.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.40 points easier at 1,592.61 from yesterday's close of 1,596.01.
The benchmark index, however, opened 2.26 points higher at 1,598.27.
On the broader market, the market was close to mixed as losers outpaced gainers by 333 to 299, while 370 counters remained unchanged, 1,003 untraded and 43 others suspended.
Turnover amounted to 1.08 billion shares worth RM744.47 million.
Malacca Securities Sdn Bhd said retail participation is expected to remain thin and this is set to continue as investors retreat ahead of the mid-week festive break next week.
At the same time, lower liners and broader market shares could end the week on a stronger note on mild bargain hunting from yesterday’s fall, it added.
Meanwhile, on the technical front, Kenanga Research said the benchmark index continued to close above all the key simple moving averages (SMAs) with heavy trading volume.
“Coupled with the bullish moving average convergence divergence (MACD) crossover, we believe that the index could move higher. From here on, the overhead resistance levels can be seen at 1,630 and 1,650.
“Conversely, key support levels can be found at 1,550 and 1,540,” it said in a note.
Banking heavyweights Maybank declined nine sen to RM8.61, CIMB fell five sen to RM5.28, Hong Leong Bank dipped 30 sen to RM17.30, RHB shed two sen to RM5.72 and Hong Leong Financial eased four sen to RM16.84, while Public Bank added six sen to RM19.68.
Meanwhile, PPB rose 34 sen to RM19.24 and MISC gained four sen to RM8.40.
Of the actives, Inari added three sen to RM1.64, KNM was flat at 35.5 sen and Bumi Armada increased 1.5 sen to 47 sen.
Top losers were led by Nestle, which shed RM1.10 sen to RM145.90, followed by Hong Leong Bank, while Batu Kawan decreased 30 sen to RM17.30.
Among top gainers, Panamy rose RM1.20 to RM37.96, Dutch Lady was 82 sen higher at RM47.30 followed by PPB.
The FBM Emas Index shed 20.37 points to 11,299.01, the FBMT 100 Index slid 21.56 points to 11,102.25 and the FBM Emas Shariah Index depreciated 4.09 points to 11,906.63.
The FBM Ace inched up 9.93 points to 5,005.78 and the FBM 70 eased 18.43 points to 14,030.18.
Sector-wise, the Financial Services Index was down 88.27 points at 15,533.59, the Plantation Index reduced 8.92 points to 7,526.82 and the Industrial Products and Services Index eased 0.32 point to 152.67. ― Bernama
