Bursa Malaysia extends downtrend at midday

Market breath remained positive as gainers surpassed losers at 557 versus 528, while 761 counters were unchanged, 321 untraded and 33 others suspended. — Picture by Azneal Ishak
Market breath remained positive as gainers surpassed losers at 557 versus 528, while 761 counters were unchanged, 321 untraded and 33 others suspended. — Picture by Azneal Ishak

KUALA LUMPUR, Nov 11 — The downtrend momentum in Bursa Malaysia has continued at midday, as regional investors sought for some profits following yesterday’s gains which were brought about by optimism over the development of a Covid-19 vaccine.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) erased 13.91 points to 1,561.16 after fluctuating between 1,554.16 and 1,572.69 throughout the morning session.

“Global equities were ruled by the bull yesterday as vaccine promise sparked optimism for world economies’ recovery.

“But they (investors) have calmed a bit from the surge, allowing the bear to take over trading,” a dealer told Bernama.

Selling was mostly spotted among the heavyweights, led by IHH Healthcare which declined 19 sen to RM5.46.

The healthcare stock pulled 3.526 points from the composite index.

Market breath remained positive as gainers surpassed losers at 557 versus 528, while 761 counters were unchanged, 321 untraded and 33 others suspended.

Total volume stood at 7.45 billion shares worth RM3.07 billion.

Among heavyweights, Maybank fell six sen to RM7.60, Top Glove shed 14 sen to RM7.66, Tenaga lost 12 sen to RM11.08, Petronas Chemicals contracted 16 sen to RM6.59, while Hartalega reduced 18 sen to RM15.52.

Public Bank, however, rose 10 sen to RM17.30.

Of the actives, AT Systematization bagged seven sen to 26 sen, Fintec added two sen to 13.5 sen, while both Netx and DGB inched up half-a-sen to 17 sen and 3.5 sen, respectively.

On the index board, the FBM Emas Index was 65.96 points lower at 11,245.07, the FBMT 100 Index fell 72.38 points to 11,040.21, and the FBM Emas Shariah Index erased 87.51 points to 13,205.25.

Meanwhile, the FBM 70 gained 6.27 points to 14,555.36 and the FBM ACE surged 198.08 points to 11,244.44.

Sector-wise, the Industrial Products and Services Index slipped 1.68 point to 152.63, the Plantation Index lost 20.46 points to 7,187.13, and the Financial Services Index decreased 40.04 points to 13,247.46. — Bernama

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