KUALA LUMPUR, May 31 ― Bursa Malaysia ended the morning trading session lower due to persistent profit-taking in selected heavyweights, led by financial services as well as plantation counters, a dealer said.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.49 points to 1,541.53 from yesterday’s close of 1,543.02.
The benchmark index, which opened 1.33 of-a-point higher at 1,544.35, moved between 1,537.95 and 1,544.35 throughout the session.
On the broader market, losers surpassed gainers 428 to 355, while 384 counters were unchanged, 1,112 untraded and 42 others suspended.
Turnover stood at 1.49 billion units worth RM846.53 million.
Malacca Securities Sdn Bhd said investors were expected to reassess the corporate earnings and reposition on solid companies heading into the final day of reporting season.
“Meanwhile, we expect the easing of restrictions in China will help the market sentiment overall. Hence, buying support should emerge within the technology and recovery-themed sectors.
“Nevertheless, the upside on the broader market may be kept as traders will be focusing on the inflationary pressure that may dampen the corporates’ margins,” the stockbroking firm said in a note.
Among the heavyweights, Maybank lost 2.0 sen to RM8.96, Public Bank fell 1.0 sen to RM4.58, IHH Healthcare slid 5.0 sen to RM6.50, Tenaga Nasional decreased 9.0 sen to RM9.16, and Petronas Chemicals rose 2.0 sen to RM10.02.
As for the actives, Sapura Energy slipped half-a-sen to 8.0 sen, Ta Win was down 1.0 sen to 10.5 sen, and G3 Global was flat at 5.5 sen, while MNC Wireless added half-a-sen to 2.0 sen and Yong Tai gained 2.5 sen to 9.0 sen.
On the index board, the FBM ACE shed 53.68 points to 5,142.49, the FBM Emas Shariah Index decreased 1.39 points to 11,383.87, the FBM Emas Index dropped 5.50 points to 10,985.67, the FBMT 100 Index trimmed 2.84 points to 10,687.86, and the FBM 70 lifted 26.99 points to 13,141.09.
Sector-wise, the Industrial Products and Services Index was 0.27 of-a-point weaker at 199.48, the Plantation Index fell 27.91 points to 7,914.86, and the Financial Services Index dropped 20.81 points to 16,580.79. ― Bernama
