Bursa Malaysia stays in negative territory at mid-afternoon

Market breadth was negative, with losers thumping gainers 1,000 to 153, while 268 counters were unchanged, 575 untraded and 33 others suspended. — Bernama pic
Market breadth was negative, with losers thumping gainers 1,000 to 153, while 268 counters were unchanged, 575 untraded and 33 others suspended. — Bernama pic

KUALA LUMPUR, Aug 14 — Bursa Malaysia extended its consolidation at mid-afternoon today to stay in negative territory with selling pressure continuing across the board as investors digested Malaysia’s second quarter Gross Domestic Product (GDP) data which contracted 17.1 per cent.

The GDP was the worst double-digit quarterly decline since 1998, due to the unprecedented lockdown that was imposed to stem the spread of Covid-19 that brought the economy to almost a complete standstill.

As at 3.07 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.95 points to 1,563.47 from Thursday’s close of 1,576.42.

The key index opened 2.37 points better at 1,578.79

Market breadth was negative, with losers thumping gainers 1,000 to 153, while 268 counters were unchanged, 575 untraded and 33 others suspended.

Trading volume stood at 7.74 billion shares worth RM3.29 billion.

Of the heavyweights, Maybank added one sen to RM7.81, Tenaga improved two sen to RM11.18, Public Bank slid two sen to RM17.78, Top Glove fell RM1.56 to RM23.44, and Hartalega declined 86 sen to RM15.70.

Among the most active, XOX shed 2.5 sen to 23 sen, Sapura Energy slid one sen to 12 sen, Priceworth and Pegasus eased half-a-sen each to 3.5 sen, while Trive Property was flat at two sen.

On the index board, the FBM Emas Index decreased 143.07 points to 11,126.58, the FBM Emas Shariah Index was 213.24 points lower at 12,880.67 and the FBMT 100 Index slipped 132.60 points to 10,958.92.

The FBM 70 dropped 335.50 points to 14,066.05 and the FBM ACE tumbled 463.08 points to 9,635.92.

Sector-wise, the Financial Services Index was down 82.55 points at 13,306.01, the Plantation Index shed 18.55 points to 7,005.74 and the Industrial Products and Services Index eased 1.55 points to 138.13. — Bernama

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