.JPG "An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. u00e2u20acu2022 Picture by Hari Anggara")
KUALA LUMPUR, April 22 — Bursa Malaysia ended the morning session lower today despite reversing some of its earlier losses.
This was in line with other Asian stock markets, which were affected by continued concerns over the uncertainty in the global economic environment, dealers said.
At midday, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 9.81 points to 1,371.92 from 1,381.73 at Tuesday’s close.
The key index, which opened 15.33 points lower at 1,366.40, moved between 1,359.54 and 1,371.92 throughout the morning session.
On the broader market, losers outpaced gainers 596 to 190, while 293 counters were unchanged, 832 untraded and 19 others suspended.
Turnover stood at 2.63 billion shares worth RM1.19 billion.
A dealer said that Asian markets were down as investors shrugged off a deal reached by the United States’ (US) White House and congressional leaders on fresh spending to combat the impact of the Covid-19 pandemic.
“Brent crude oil prices tumbled as the global benchmark West Texas Intermediate (WTI) was sucked into the rout that sent US futures below zero for the first time ever this week.
“While major economies around the world take tentative steps towards reopening, signs that the US is close to bolstering spending did little to offset fresh concerns over the depth of the recession,” he said.
Among the heavyweights, Maybank slipped 15 sen to RM7.41, IHH Healthcare declined two sen to RM5.11, TNB was flat at RM12.50 while Public Bank rose four sen to RM15.78 and Petronas Chemicals increased 20 sen to RM5.32.
Among the actives, Xidelang added one sen to eight sen, while Hibiscus Petroleum, Lambo and Eduspec were flat at 42.5 sen, 1.5 sen and 1.5 sen, respectively.
On the index board, the FBM Emas Index decreased 69.93 points to 9,528.60, the FBM Emas Shariah Index lost 53.07 points to 10,550.23, the FBMT 100 Index erased 67.78 points to 9,415.17, the FBM 70 dropped 83.06 points to 11,280.42 and the FBM Ace edged down 59.30 points to 4,255.40.
Sector-wise, the Financial Services Index shed 152.44 points to 12,301.60, the Industrial Products and Services Index eased 0.84 of-a-point to 115.21 and the Plantation Index dipped 85.35 points to 6,097.04. — Bernama
