KUALA LUMPUR, Oct 1 — Bursa Malaysia ended its morning trading session lower on continued selling in plantation, healthcare and financial counters.
Sime Darby Plantation declined 18 sen to RM4.87, IHH fell 12 sen to RM5.08 and Maybank erased nine sen to RM7.13.
Altogether, these counters contributed 6.67 points to the losses in the composite index.
At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) reduced by 12.68 points to 1,492.14 from yesterday’s close of 1,504.82.
It moved between 1,491.13 and 1,503.86 throughout the morning session, after opening 3.24 points lower at 1,501.58.
Market breadth was negative as losers surpassed gainers 472 to 374, while 418 counters were unchanged, 825 untraded and 21 others suspended.
Total volume stood at 2.77 billion shares worth about RM1.3 billion.
Rakuten Trade said that due to the more positive opening of the Dow Jones Index’s futures, it expects regional markets to trend higher today after the rather listless performance yesterday.
“As for the local bourse, we expect the FBM KLCI test the 1,510 mark after a few close calls yesterday.
“Based on our seasonal readings, the fourth quarter is usually a better period for equities than the third quarter (Q3),” it said.
Yesterday, the Department of Statistics Malaysia said the country’s economic recovery has begun with the reactivation of economic activities, as reflected by macroeconomic indicators in July.
Meanwhile, plantation company FGV Holdings Bhd was under pressure today following the United States Customs and Border Protection’s decision to issue a withhold release order on its palm oil and palm oil products yesterday, based on information of alleged use of forced labour.
FGV’s shares dropped nine sen to RM1.06 during the morning trading session, with 30.04 million units transacted.
Among the heavyweights, Maybank erased nine sen to RM7.13, Public Bank decreased 10 sen to RM15.60, while healthcare-linked stocks Top Glove and Hartalega rose six sen and 12 sen to RM8.36 and RM16.28, respectively.
Of the actives, XOX eased one sen to 12 sen, Kanger International lost three sen to 15 sen, while Iris was 2.5 sen higher at 30.5 sen.
On the index board, the FBM Emas Index depreciated 64.10 points to 10,767.46 and the FBM Emas Shariah Index gave up 73.28 points to 12,827.66.
The FBM 70 slipped 0.34 of-a-point to 14,128.48, the FBMT 100 Index erased 67.12 points to 10,593.58, while the FBM ACE was 73.83 points stronger at 9,987.84.
Sector-wise, the Financial Services Index declined 101.27 points to 12,376.35, the Plantation Index weakened 101.51 points to 6,948.72 and the Industrial Products and Services Index added 0.13 point to 136.98. — Bernama
