KUALA LUMPUR, Feb 3 — Bursa Malaysia remained easier across the board at mid-day today, but the losses were limited by news that China’s trading market had an orderly start thanks to the calming liquidity injection pledged by the People’s Bank of China (PBoC), analysts said.
China’s central bank said it would inject 1.2 trillion yuan (US$174 billion) worth of liquidity into the financial markets via reverse repo operations amid the outbreak of the 2019 novel coronavirus (2019-nCoV).
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.30 per cent or 4.65 points to 1,526.41 from Friday’s close of 1,531.06.
The benchmark index opened 8.92 points easier at 1,522.14 and moved between 1,517.61 and 1,528.06 throughout the morning session.
On the broader market, losers outpaced gainers 834 to 150, with 248 counters unchanged, 728 untraded and 21 others suspended.
Turnover amounted to 2.51 billion shares worth RM1.40 billion.
Rakuten Trade Sdn Bhd said investors would be eyeing on China’s equity market which reopened today after an extended break.
“On the local front today, market is expected to be selling mode with FBM KLCI’s support level at 1,500. Longer term investors may take the opportunity to bargain hunt on oversold stocks,” it said in a research note today.
Among the heavyweights, Axiata slipped eight sen to RM4.22, Malaysia Airports trimmed 11 sen to RM6.63, Sime Darby Plantation lost eight sen to RM4.99, IOI Corp fell seven sen to RM4.47 and Top Glove gave up nine sen to RM5.76.
Among the actives, Bumi Armada and Vivocom recovered half-a-sen to 36 sen and 2.5 sen respectively, while Sapura Energy shed half-a-sen to 24 sen
As for the top losers, Nestle dipped RM1.20 to RM143.10, Dutch Lady lost 80 sen to RM40.20 and KESM contracted 62 sen to RM9.50.
On the index board, the FBM Emas Index decreased 76.34 points to 10,813.78, the FBM Emas Shariah Index fell 101.64 points to 11,451.06, the FBMT 100 Index erased 68.18 points to 10,635.41, the FBM 70 was 233.47 points weaker at 13,418.09, and the FBM Ace gave up 83.99 points to 5,293.23.
Sector-wise, the Industrial Products and Services Index inched down 1.51 points to 141.80, the Financial Services Index was 55.97 points easier at 14,726.28 and the Plantation Index fell 99.61 points to 7,049.61. — Bernama
