KUALA LUMPUR, Jan 28 ― Bursa Malaysia ended the morning session lower due to weak market sentiment, in line with the decline in regional stocks.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,554.58, down 18.23 points from Friday's close of 1,572.63.
After opening 14.24 points weaker at 1,558.57 today, the benchmark index moved between 1,545.63 and 1,558.59 throughout the session.
Market breadth was extremely negative with decliners leading gainers 807 to 145, while 182 counters remained unchanged, 843 untraded and 21 others suspended.
Turnover amounted to 2.08 billion shares worth RM1.55 billion.
A dealer said market sentiment was clouded by growing worries on the 2019 novel coronavirus outbreak and its economic impact on global growth.
On the regional front, Singapore’s Straits Times Index fell 83.92 points to 3,156.10, the Jakarta Composite Index declined 61.19 points to 6,072.06 and South Korea’s KOSPI Composite Index was 75.84 points lower at 2,170.29.
In a note, Rakuten Trade said it was not an auspicious start for the regional stock markets today as the spread of the Wuhan coronavirus had investors scurrying for cover as many unloaded their position, pushing down the DJI Index by 420 points.
It said crude oil prices also retreated on the potential negative impact of the virus outbreak on demand, with Brent going below the US$60 (RM245) level to close at US$58.58 per barrel.
“Looking at a plethora of adverse developments, we believe trading on the local bourse to be muted with the FBM KLCI facing some downward pressure with support seen at 1,560 today,” it added.
Of heavyweights, Maybank eased four sen to RM8.49, Public Bank lost 26 sen to RM18.92, Tenaga declined 18 sen to RM12.70 and Petronas Chemicals was 29 sen lower at RM6.63.
The most active counter was Priceworth, which eased half-a-sen to 2.5 sen, while glove manufacturers Careplus added 13 sen to 36.5 sen and Supermax gained 22 sen to RM1.83.
On the index board, the FBM Emas Index was 156.52 points lower at 11,090.14 and the FBM Emas Shariah Index decreased 157.31 points to 11,810.82.
The FBMT 100 Index dropped 146.10 points to 10,886.23, the FBM 70 lost 263.01 points to 13,959.22 and the FBM Ace reduced 101.91 points to 5,578.49.
Sector-wise, the Industrial Products and Services Index inched down 3.78 points to 148.17, the Financial Services Index erased 158.53 points to 14,944.54 and the Plantation Index contracted 181.09 points to 7,243.66. ― Bernama
