KLCI retreats to below 1,500-point level, down 1.12% at midday

KLCI retreats to below 1,500-point level, down 1.12% at midday
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KUALA LUMPUR (Nov 25): Bursa Malaysia slid to below the 1,500-point psychological mark at midday due to profit-taking following Thursday's (Nov 24) strong gains as well as a weak external front.

At lunch break on Friday, the benchmark FBM KLCI index had fallen by 16.75 points, or 1.12%, to 1,485.13 from 1,501.88 on Thursday.

The market bellwether opened 0.18 of a point lower at 1,501.70.

Market breadth remained negative with losers leading gainers 551 to 298, while 372 counters were unchanged, 1,042 untraded and 15 others suspended.

Turnover stood at 2.78 billion units valued at RM1.39 billion.

Losses in Maxis Bhd, Digi.Com Bhd and Axiata Group Bhd dragged the composite index down by a combined 4.856 points.

Top Glove Corp Bhd emerged as the biggest loser among the 30 index constituents of the KLCI after slipping by seven sen or 7.11% to 91.5 sen, with 47.49 million shares changing hands.

As for other heavyweights, Malayan Banking Bhd (Maybank) fell by seven sen to RM8.69, Petronas Chemicals Group Bhd was down by one sen to RM9.05 and IHH Healthcare Bhd slipped one sen to RM5.99, CIMB Group Holdings Bhd lost eight sen to RM5.79, Tenaga Nasional Bhd (TNB) gave up 23 sen for RM8.68, and Hong Leong Bank Bhd erased 12 sen to RM20.82.

However, Public Bank Bhd bagged two sen to RM4.54.

Among the actives, Advance Synergy Bhd declined two sen to 24 sen and MMAG Holdings Bhd was flat at three sen, while Infomina Bhd increased 16.5 sen to 56.5 sen, and Icon Offshore Bhd added one sen to 15.5 sen.

On the index board, the FBM Emas Index decreased 95.02 points to 10,573.55, the FBM Emas Shariah Index fell 133.51 points to 10,671.32, the FBMT 100 Index went down 95.26 points to 10,294.56, the FBM ACE contracted 15.12 points to 5,195.1, and the FBM 70 weakened 33.23 points to 12,666.59.

Sector-wise, the Financial Services Index was 47.32 points lower at 16,719.56, the Energy Index shed 3.17 points to 760.92, the Industrial Products and Services Index inched down 0.49 of a point to 184.52, and the Plantation Index declined 51.57 points to 6,793.49.