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Bursa Malaysia lower at midday

22/11/2022 01:35 PM

KUALA LUMPUR, Nov 22 (Bernama) --  Bursa Malaysia ended the morning session lower as the weak market sentiment continued to weigh on investors’ risk appetite.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 11.41 points to 1,436.55 from 1,447.96 on Monday.

The market bellwether opened 1.24 points easier at 1,446.72.

Losses in Maxis, Public Bank, DiGi and Petronas Dagangan pulled the composite index down by a combined 6.562 points.

The barometer index started the morning session higher on bargain-hunting activities but retreated thereafter as cautious sentiment ahead of the formation of a new government resurged.

The Yang di-Pertuan Agong has requested that all party leaders and leaders of political blocs that won the most seats in the 15th General Election to inform the palace about the new coalition they have agreed on to form the new government, as well as the name of their candidate for the prime minister’s post by 2 pm today.

On the broader market, decliners led gainers 456 to 264, while 346 counters were unchanged, 1,232 untraded and 14 others suspended.

Turnover stood at 2.56 billion units valued at RM1.04 billion.

In its research note, Malacca Securities Sdn Bhd said the global sentiment was dampened by worries over the global growth slowdown after China imposed stricter COVID-19 curbs.

On commodities, Brent crude oil price stayed above US$87 per barrel after rebounding from the low of around US$82, while the crude palm oil price hovered near RM3,850 per tonne.

Meanwhile, Bursa Malaysia heavyweights Public Bank declined six sen to RM4.27, IHH Healthcare slipped one sen to RM5.95, Tenaga erased seven sen to RM8.34 and Hong Leong Bank shed two sen to RM20.60.

Among the actives, Advance Synergy and Malayan United were flat at 16 sen and 10 sen, respectively, while Eden, Dagang NeXchange and Thriven gained 3.5 sen each to 23 sen, 60.5 sen and 19 sen, respectively.

On the index board, the FBM Emas Index went down 64.54 points to 10,210.27, the FBM Emas Shariah Index fell 71.07 points to 10,336.42, the FBMT 100 Index gave up 64.39 points for 9,940.61, and the FBM 70 reduced 20.28 points to 12,146.66, and the FBM ACE decreased 34.56 points to 4,917.94.

Sector-wise, the Plantation Index was 11.28 points lower at 6,827.89, the Industrial Products and Services Index slipped 0.73 of-a-point to 178.19, the Financial Services Index lost 34.77 points to 16,173.01, and the Energy Index shed 6.7 points to 719.67. 


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