KUALA LUMPUR, July 14 ― Bursa Malaysia continued to stay negative at mid-day as the overall market sentiment remained weak.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.20 per cent or 2.97 points lower at 1,516.59 compared with yesterday’s close of 1,519.56.   

The market bellwether however opened 1.21 points higher at 1,520.77 and moved between 1,513.46 and 1,522.87 throughout the morning session.

On the broader market, losers led gainers 446 to 362, while 465 counters were unchanged, 954 were untraded, and nine others suspended.

Turnover stood to 2.54 billion units worth RM1.55 billion.

Maybank IB Research said despite the subdued market, investors’ buying interest would likely be focused on selected sectors such as technology and industrial.

“Technically, we expect the benchmark index to range between 1,510 and 1,530 today, with supports at 1,495 and 1,450,” it said.

The technology index moved 2.37 per cent or 1.95 points higher at 83.90 while the healthcare index rose 1.54 per cent or 42.67 points to 2,805.97.

Regionally, ActivTrades trader Anderson Alves said Asian equities were choppy amid inflationary concerns after the US Consumer Price Index (CPI) data printed its highest figures since 2008.

The CPI in June jumped 0.9 per cent month-on-month and 5.4 per cent year-on-year, according to US Labour Department data released yesterday.

“On Wall Street, stocks fell, bonds sold off, and the US dollar gained against G10 countries and emerging market (EM) currencies,” he said in a note.

Among the heavyweights, Maybank and Public Bank were down one sen each to RM8.05 and RM4.07 respectively, Petronas Chemicals dropped four sen to RM8.06, while IHH rose one sen to RM5.65.

 Most active counters, Lambo was flat at one sen, Pasukhas dipped 4.5 sen to 28.5 sen, while Serba Dinamik and Pelikan shed 1.5 sen each to 43 sen and 46.5 sen respectively.

On the index board, the FBM Emas Index was 0.13 of-a-point firmer at 11,055.62, the FBMT 100 Index slid 0.83 of-a-point to 10,772.33, but the FBM Emas Shariah Index recovered 24.13 points to 12,120.73.

The FBM ACE climbed 44.73 points to 7,118.01 and the FBM 70 went up 78.05 points to 14,385.36.

Sector-wise, the Financial Services Index gave up 47.30 points to 14,888.85, the Industrial Products and Services Index edged down 0.05 of-a-point to 187.00, and the Plantation Index eased 15.90 points to 6,226.23. ― Bernama