KUALA LUMPUR, Sept 2 ― Bursa Malaysia was lower at midday break today on continued profit taking in selected industrial products and services as well as transportation and logistics counters, amid mixed regional market sentiment, dealers said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.24 per cent or 3.73 points to 1,583.05 from yesterday’s close of 1,586.89.
The index opened 1.42 points better at 1,588.31 and moved between 1,582.25 and 1,593.57 throughout the morning session.
On the broader market, losers surpassed gainers 529 to 377, while 438 counters were unchanged, 874 untraded and six others suspended.
Turnover stood at 2.37 billion units worth RM1.48 billion.
Meanwhile, in a research note today, Rakuten Trade said the benchmark index might consolidate further with bargain-hunting activities expected to emerge if the index dipped below the 1,575 level.
“Wall Street closed mixed as trading activities remained muted following a lower-than-expected job data. The Dow Jones Industrial Average ended 48 points lower while the Nasdaq was up by 50 points to stay above the 15,300 level.
“Against such backdrop, we reckon regional markets to experience another mixed performance ahead,” it said.
As for the local bourse, Rakuten said last-minute selling saw the index dip to below the 1,590 mark yesterday.
“Nonetheless, we find this correction healthy following a mini rally since mid-August, which saw the benchmark index jump by almost 7.0 per cent. Looking ahead, we believe the index to trend around the 1,580-1,590 range today,” it added.
Of the heavyweights, Maybank declined 2.0 sen to RM8.28, and Public Bank slipped 1.0 sen to RM4.07 while Petronas Chemicals and Tenaga Nasional were flat at RM8.29 and RM10.34, respectively, and IHH Healthcare added 4.0 sen to RM6.37.
Among the actives, Ho Wah Genting gained 3.5 sen to 33.5 sen and TFP Solutions earned half-a-sen to 22.5 sen. However, Bintai Kinden shed 4.0 sen to 52.5 sen and TA Win eased half-a-sen to 16.5 sen.
On the index board, the FBM Emas Index weakened 22.58 points to 11,538.76, the FBMT 100 Index was 21.39 points lower at 11,243.65, and the FBM Emas Shariah Index fell 32.01 points to 12,667.08.
The FBM 70 contracted 5.47 points to 15,011.98 while the FBM ACE dipped 33.80 points to 7,182.22.
Sector-wise, the Plantation Index decreased 24.07 points to 6,733.52, the Industrial Products and Services Index eased 0.97 of-a-point to 198.60, and the Financial Services Index slipped 4.84 points to 15,391.70. ― Bernama
