KUALA LUMPUR, April 8 ― Shares on Bursa Malaysia were lower at mid-morning amid investors’ concern over the increased death toll and higher new cases of Covid-19.

The trend was also seen in regional stock markets ― Hong Kong’s Hang Seng Index slipped 0.94 per cent to 24,024.47, Singapore Straits Times Index declined 2.28 per cent to 2,513.92 while Korea's Kospi Composite Index slipped 0.42 per cent to 1,815.91.

At 11am, key index FTSE Bursa Malaysia KLCI (FBM KLCI) erased 6.54 points or 0.47 per cent to 1,363.38 from 1,369.92 at yesterday’s close.

The key index opened 3.46 points weaker at 1,366.46.

Market breadth was negative with losers outpacing gainers 513 to 198, while 271 counters were unchanged, 938 untraded and 20 others suspended.

Turnover stood at 1.81 billion shares worth RM768.25 million.

Rakuten Trade in its note said heightened volatility on Wall Street aptly demonstrated the investors’ fragile confidence.

“Although the Dow Jones Index Average closed rather flat overnight, the index was actually up by around 950 at one point, surpassing the 23,000 mark. Reflecting the steep volatility, we believe regional markets would experience similar predicaments following some solid gains yesterday.

“Locally, we expect similar pattern to emerge with the immediate support of 1,350 to be re-tested today,” it said.

Among the heavyweights, Maybank rose two sen to RM7.85, Tenaga lost 16 sen to RM12.04, Public Bank gave up six sen to RM15.84 while IHH was one sen weaker at RM5.11.

The most active counters were from the energy, construction and technology sectors.

Hibiscus Petroleum slipped one sen to 53 sen, Gamuda-WE rose two sen to 15 sen and VC was 1.5 sen higher at 7.5 sen.

On the index board, the FBM Emas Index decreased 48.88 points to 9,428.83, the FBM Emas Shariah Index gave up 57.85 points to 10,344.71 while the FBMT 100 Index depreciated 45.89 points to 9,321.87.

The FBM Ace lost 52.70 points to 4,180.20 while the FBM 70 dropped 59.31 points to 11,024.89.

Sector-wise, the Industrial Products and Services Index added 0.12 of-a-point to 109.45, the Financial Services Index slipped 12.33 points to 12,403.97 and the Plantation Index contracted 162.81 points to 6,189.00. ― Bernama