.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, July 10 ― Shares on Bursa Malaysia remained in the negative territory at mid-morning, weighed down by profit-taking in selected heavyweight stocks.
At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 1.42 points to 1,581.83 from yesterday’s close of 1,583.25.
The index opened 4.33 points weaker at 1,578.92.
Overall market breadth was negative as losers surpassed gainers 506 to 324, while 389 counters were unchanged, 734 untraded and 22 others suspended.
Total volume stood at 3.54 billion shares worth RM1.93 billion.
A dealer said the local bourse was tracking the performance of regional peers which took the cue from the slump in United States’ (US) equities on concerns that a resurgence in Covid-19 cases will derail the world’s biggest economy’s recovery.
In a note today, Rakuten Trade Sdn Bhd said the Dow Jones Industrial (DJI) Average lost 361 points, dipping below the 26,000 mark, while the Nasdaq continues its record-breaking run.
“Therefore, regional markets are expected to be mixed today, taking the cue from the weakness on Wall Street.
“Locally, we reckon the FBM KLCI to be flattish, trending within the 1,575-1,585 range today,” it added.
Among heavyweights, Maybank eased four sen to RM7.87, Public Bank reduced 10 sen to RM18.40 and Tenaga shed eight sen to RM11.40.
Top Glove rose 60 sen to RM21.78 and Hartalega increased 44 sen to RM17.04.
Of the most active, Dagang Nexchange added five sen to 26.5 sen, Dagang Nexchange warrant gained 2.5 sen to 4.5 sen, PDZ Holdings eased 1.5 sen to 17.5 sen, VSolar Group slid one sen to six sen while DGB Asia was flat at five sen.
On the index board, the FBM Emas was 6.25 points better at 11,167.21, the FBMT 100 Index improved 7.73 points to 10,018.57 and the FBM Emas Shariah Index rose 43.89 points to 12,778.28.
The FBM 70 expanded 79.57 points to 13,869.88 while the FBM ACE dropped 103.75 points to 7,134.17.
Sector-wise, the Financial Services Index fell 65.84 points to 13,479.74, the Industrial Products and Services Index eased 0.97 of-a-point to 138.73 and the Plantation Index slipped 55.62 points to 6,803.20. ― Bernama
