BURSA MALAYSIA STAYS IN THE RED AT MIDDAY

By Durratul Ain Ahmad Fuad & Zarul Effendi Razali

KUALA LUMPUR, May 25 (Bernama) -- Bursa Malaysia remained in the red at midday due to the lack of positive catalysts, in line with the weaker sentiment in regional bourses. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 2.63 points to 1,406.99 from 1,409.62 at yesterday’s close.

The barometer index opened 0.68 points weaker at 1,408.94 this morning.

On the broader market, losers trounced gainers 499 to 242, while 362 counters were unchanged, 1,155 untraded and 14 others suspended.

Turnover stood at 1.18 billion units worth RM660.57 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said trading on the FBM KLCI remained stuck within a narrow range before ending the morning session below the 1,410-level in the absence of fresh catalysts.

“Nonetheless, we are hopeful that bargain-hunting activities would emerge, especially in the banking stocks as we expect banks’ earnings to remain decent.

“Despite the prevailing weak market undertone, we anticipate the index to possibly trend within the 1,410-1420 range today," he told Bernama. 

Among the heavyweights, Maybank rose 1.0 sen to RM8.57, Petronas Chemicals went up 5.0 sen to RM7.00 and Tenaga Nasional increased 12.0 sen to RM9.64, while Public Bank decreased 1.0 sen to RM3.91 and CIMB Group was flat at RM4.98.  

As for the active counters, Parkson Holdings expanded 3.0 sen to 18.0 sen, Bahvest Resources gained half-a-sen to 19.5 sen and Iris Corporation earned 1.0 sen to 11.5 sen, while Iconic Worldwide and Tanco were flat at 14.5 sen and 55.0 sen respectively.

On the index board, the FBM Emas Index dipped 22.72 points to 10,317.76, the FBMT 100 Index slid 20.93 points to 10,022.76, the FBM Emas Shariah Index slipped 29.07 points to 10,687.72, the FBM 70 Index lost 33.80 points to 13,475.46, and the FBM ACE Index was 20.83 points lower at 4,926.97.

Sector-wise, the Industrial Products and Services Index improved by 0.55 of-a-point to 164.55, the Plantation Index shed 103.49 points to 6,833.18, the Energy Index fell by 3.06 points to 827.08, and the Financial Services Index eased 0.85 of-a-point to 15,348.48.

-- BERNAMA