Bursa Malaysia ends morning session lower

Bursa Malaysia ends morning session lower
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KUALA LUMPUR (Sept 14): Bursa Malaysia ended the morning trading session lower amid mixed regional market performance, with selling mostly seen among the heavyweights, led by Axiata Group Bhd and Public Bank Bhd.

At lunch break, the FTSE Bursa Malaysia (FBM KLCI) decreased 8.28 points to 1,561.85 from Monday’s close of 1,570.13.

The benchmark index opened 0.58 of-a-point lower at 1,569.55 and moved between 1,561.02 and 1,573.18 throughout the session.

In the broader market, losers outpaced gainers 481 to 381, while 457 counters were unchanged, 949 untraded and six others suspended.

Volume stood at 2.55 billion units valued at RM1.35 billion.

Axiata and Public Bank dragged the composite index down by a combined 3.05 points. Axiata fell six sen to RM4.03 while Public Bank lost four sen to RM4.02.

Fraser & Neave Holdings Bhd was the top loser, tumbling 44 sen to RM27.26, while Genetec Technology Bhd was the biggest gainer, surging 42 sen to RM33.48.

Rakuten Trade said the FBM KLCI remained in consolidation mode due to weak market sentiment and lack of buying catalysts.

“But we expect some bargain-hunting activities to emerge today.

“Sustained buying support from foreign funds should see the benchmark index being well supported at current levels,” it said in a note today.

The brokerage said it anticipated the FBM KLCI to hover in the 1,570-1,580 range today. 

Among the heavyweights, Malayan Banking Bhd and Petronas Chemicals Group Bhd were flat at RM8.30 and RM7.99 respectively, while Tenaga Nasional Bhd eased four sen to RM10.24 and Press Metal Aluminium Holdings Bhd rose one sen to RM5.82.

Of the actives, Kanger International Bhd fell half-a-sen to 5.5 sen, Avillion Bhd gained half-a-sen to 16 sen, and KNM Group Bhd was flat at 28 sen.

On the index board, the FBM Emas Index fell 38.67 points to 11,442.69, the FBMT 100 Index was 43.71 points lower at 11,128.98, and the FBM Emas Shariah Index decreased 36.1 points to 12,533.51.

The FBM 70 inched up 0.66-of-a-point to 14,999.28 while the FBM ACE contracted 7.7 points to 7,211.41.

Sector wise, the Plantation Index reduced 50.19 points to 6,530.88, the Industrial Products and Services Index improved 0.2 of-a-point to 200.84, and the Financial Services Index slipped 76.52 points to 15,297.03.