Despite opening on a firm note, KL shares end morning session lower

An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. — Reuters pic
An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. — Reuters pic

KUALA LUMPUR, Oct 12 — Bursa Malaysia ended the morning session lower, despite opening on a firm note and weighed down by losses in selected heavyweight stocks, dealers said.

At 12.30pm, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.20 points to 1,753.01, after moving between 1,753.01 and 1,760.32 throughout the morning session.

It opened 3.11 points higher at 1,761.12  from Wednesday's close of 1,757.21.

On the broader market as losers led gainers 377 to 368 with 362 counters unchanged, 753 untraded and 35 others suspended.

Turnover stood at 2.45 billion shares worth RM976.72 million.

A dealer said share prices on major Asian bourses were mostly higher following the stronger overnight performance of Wall Street, which came on the heels of the latest Federal Reserve (Fed) minutes being seen as dovish, with a strong degree of caution over the timing of future interest-rate increases.

On Bursa Malaysia, heavyweight stocks closed the morning session mixed, with losses in trade and services stocks being the main contributor weighing down the FBM KLCI.

Regionally, Japan's Nikkei 225 improved 0.41 per cent to 20,967.21, Hong Kong's Hang Seng was up 0.26 per cent at 28,464.71, South Korea's Kospi rose 0.42 per cent to 2,468.48, the Singapore Straits Times index gained 0.65 per cent to 3,301.66, while the Shanghai Stock Exchange slipped 0.17 per cent to 3,382.66.

Of the heavyweights, Maybank and Petronas Chemicals eased one sen each to RM9.54 and  RM7.31 respectively, Sime Darby shed three sen to RM9.06, TNB fell ten sen to RM14.10, while Public Bank was flat at RM20.56.

Among active counters, MNC wireless added 2.5 sen at 11.5 sen, Asiamet education rose 11 sen to 27.5 sen, Permaju Industries gained two sen to 37.5 sen, Key Asic improved 3.5 sen to 30.5 sen, while APFT was flat at 2.5 sen.

The FBM Emas Index declined 27.68 points to 12,550.83, the FBMT 100 Index slipped 29.21 points to 12,196.37, the FBM Emas Shariah Index slipped 40.22 points to 12,825.58 and the FBM 70 fell 36.25  points to 15,159.31.

The FBM Ace jumped 101.38  points to 6,899.97.

 Sector-wise, the Plantation Index gained 8.86 points to 7,946.99, the Industrial Index lost 5.87 points to 3,217.40 and  the Finance Index decreased 20.39 points to 16,508.18. — Bernama

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