KUALA LUMPUR, Jan 12 ― Bursa Malaysia's barometer index finished the morning session above the crucial 1,600 level but the broader market remained weak in the absence of buying interest.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 11.77 points to 1,605.48.
The index opened 1.41 points lower at 1,615.84 compared with Monday’s close of 1,617.25.
It moved between 1,590.71 and 1,615.84 throughout the trading session.
On the broader market, losers trounced gainers 763 to 381, while 402 counters were unchanged, 538 untraded and 12 others suspended.
Total volume stood at 5.08 billion units worth RM3.26 billion.
This morning, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah proclaimed a state of Emergency that would be enforced until Aug 1 as a proactive measure to contain the worsening Covid-19 pandemic in the country.
His Majesty decreed that the Emergency be in force up to that date, or earlier if the number of positive Covid-19 cases could be effectively controlled and reduced.
Prime Minister Tan Sri Muhyiddin Yassin, during a live televised address on the declaration of Emergency proclamation, said the government had to act as there was no sign of a reduction in Covid-19 cases.
Having said that, he said the civilian government and economy activity would continue to function during the period of the Emergency.
Muhyiddin also said Bursa Malaysia and the Securities Commission would continue to play the market facilitator role.
Regionally, equity markets were mixed amid the negative overnight cues from Wall Street and worries about the rising Covid-19 cases globally.
Regional markets were also cautious after House Democrats introduced an article of impeachment against US President Donald Trump.
Banking stocks led the drop in the heavyweights counters, with Maybank losing 12 sen to RM8.07, Public Bank declining 30 sen to RM19.98 and CIMB sliding eight sen to RM3.96.
TNB went down 14 sen to RM10.10, PetChem dropped 11 sen to RM7.19, while IHH and Axiata retreated six sen to RM5.54 and RM3.57, respectively.
Top Glove and Hartalega recovered from yesterday’s losses, gaining 14 sen to RM6.57 and 38 sen to RM12.60, respectively.
Of the actives, Hubline, Lambo and VSolar were flat at five sen, three sen and four sen, respectively.
Iris added 5.5 sen to 40 sen and AT Systematization was half-a-sen higher at 18 sen.
On the index board, the FBM Emas Index gave up 75.35 points to 11,473.13, the FBMT 100 Index lost 80.52 points to 11,232.54, and the FBM Emas Shariah Index dropped 26.80 points to 13,043.89.
The FBM 70 lost 95.58 points to 14,337.50, while the FBM ACE improved 24.61 points to 10,383.65.
Sector-wise, the Financial Services Index sank 277.25 points to 14,544.16, the Industrial Products and Services Index eased 0.76 of-a-point to 171.24 and the Plantation Index fell 43.53 points to 7,440.04. ― Bernama
