KUALA LUMPUR, Aug 28 ― Bursa Malaysia turned lower at mid-day on persistent profit-taking in most heavyweight and small capitalisation stocks after recent gains ahead of the extended weekend.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.36 per cent or 5.67 points lower at 1,549.11 from yesterday's close of 1,554.78.
The barometer index opened 0.27 point higher at 1,555.05 and moved between 1,548.63 and 1,558.29 throughout the morning session.
On the broader market, losers beat gainers 532 to 442, while 400 counters were unchanged, 675 untraded and 68 others suspended.
Trading volume stood at 6.24 billion shares worth RM2.58 billion.
Malacca Securities Sdn Bhd said amid volatile trading, the strong trading interest spurred by rotational play among the lower liners may continue to dominate the trading scene.
“While the focus on the technology sector is expected to march higher, we think that the construction sector will see some upward bias move as tenders for the Kuala Lumpur-Singapore High Speed Rail (HSR) kick off.
“Elsewhere, plantation stocks are also in favour owing to the strong corporate earnings which look to sustain with CPO prices hovering above RM2,600 per tonne in recent months.
“Gains, however, will be capped with 1,580 as the immediate resistance, followed by 1,600. Downside risk remains located at 1,540, followed by 1,515,” it added.
Of the heavyweights, Maybank shed five sen to RM7.41, Top Glove fell 32 sen to RM26.08, Public Bank rose six sen to RM16.68, Tenaga went down two sen to RM11.10, and Hartalega dropped six sen to RM16.80.
Among the actives, XOX dipped six sen to 26 sen, Pegasus Heights was flat at four sen and Konsortium Transnasional added 6.5 sen to 17 sen.
Of the top losers, PPB Group lost 38 sen to RM18.88, followed by Top Glove and Hap Seng, which shed 30 sen to RM7.58.
Top gainers Allianz increased 56 sen to RM14.04, BLD Plantation improved 50 sen to RM7.00 and Supermax advanced 34 sen to RM20.54.
On the index board, the FBM Emas Index increased 15.28 points to 11,196.31, the FBMT 100 Index was 14.92 points weaker at 11,000.34 but the FBM 70 appreciated 78.84 points to 14,680.14.
The FBM Emas Shariah Index reduced 23.78 points to 13,267.80 and the FBM ACE slid 105.14 points to 11,101.80.
Sector-wise, the Financial Services Index declined 7.39 points to 12,828.66, the Industrial Products and Services Index eased 1.12 point to 139.06 and the Plantation Index erased 6.97 points to 7,075.07. ― Bernama
