KUALA LUMPUR, June 5 — Bursa Malaysia remained lower at mid-morning dragged by financial services sector as investors offloaded recent gains amid Wall Street’s subdued overnight results, dealers said.
At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.79 points lower to 1,558.05 from 1,561.84 at Wednesday’s close.
On the broader market, decliners surpassed gainers 483 to 318, while 396 counters were unchanged, 705 untraded and 19 others suspended.
Turnover stood at 3.22 billion units worth RM2.04 billion.
Meanwhile, the FBM KLCI was mirroring regional indices which were mostly lower, impacted by Wall Street.
AxiCorp chief global markets strategist, Stephen Innes said the White House is expected to spend up to US$1 trillion in yet another round of economic stimulus, which is likely to be unveiled next month.
“But the upward momentum in risk appetite has faltered slightly; there is no single explanation for the tempered enthusiasm in markets other than exhaustion, perhaps.
“US economic data remains weak, but markets have been willing to look through it by focusing on the recovery phase,” he said in a note today.
Back home, Maybank decreased 17 sen to RM8.02, Tenaga declined six sen to RM11.96, Public Bank eased 10 sen to RM17.04, Petronas Chemicals fell 19 sen to RM6.78 and IHH Healthcare receded four sen to RM5.55.
On the index board, the FBM Emas Index trimmed 24.27 points to 10,946.5, the FBM ACE reduced 42.04 points to 5,879.86, the FBMT 100 Index eased 24.72 points to 10,805.86 and the FBM 70 was 24.16 points weaker to 13,415.81.
Meanwhile, the FBM Emas Shariah Index increased 29.03 points to 12,333.46.
Sector-wise, the Industrial Products and Services Index declined 2.36 points to 139.39, the Financial Services Index fell 170.45 points to 13,713.25, and the Plantation Index decreased 3.92 points for 6,823.96. — Bernama
