FBM KLCI Stays Lower At Midday Amid Mixed Regional Markets

KUALA LUMPUR, Oct 22 (Bernama) -- Bursa Malaysia remained lower at lunch break while the regional market performance was mixed amid positive sentiment underpinned by expectations of easing trade tension between China and the US.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 4.28 points, or 0.26 per cent, to 1,612.55 from Tuesday’s close of 1,616.83.

The benchmark index opened 0.73 of a point firmer at 1,617.56 and moved between 1,610.41 and 1,617.56 during the morning session.

Market breadth was negative, with 619 losers outpacing 275 gainers, and 443 counters unchanged, while 1,356 were untraded and 31 suspended.

Turnover stood at 2.06 billion units valued at RM1.12 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI as expected rebounded to above the 1,615 mark, attributed to bargain-hunting activities.

“We believe local institutions remained the main buyers amid an improving domestic economy. As such, we anticipate the index to trend within the 1,615-1,625 range today,” he said.

Among the heavyweight counters, Press Metal went down nine sen to RM6.13, Public Bank fell five sen to RM4.22, YTL Corporation decreased four sen to RM2.51, while Maybank and IHH Healthcare were flat at RM9.90 and RM8.30 respectively. 

On the most active list, Verdant Solar added 6.5 sen to 37.5 sen, Tanco gained one sen to 88 sen and TWL added half-a-sen to three sen while Perak Transit dropped 26.5 sen to 37 sen and Aizo was flat at eight sen.

Among the top gainers, United Plantations rose 48 sen to RM24.14, Fraser & Neave increased 18 sen to RM28.32, MISC added 12 sen to RM7.36, LPI Capital gained 10 sen to RM14.32 and Telekom Malaysia was eight sen up to RM7.26.

Top decliners included Hong Leong Bank, which declined 24 sen to RM20.72, Petronas Dagangan shed 14 sen to RM22.40, Nestle eased 10 sen to RM109.40 and Ayer Holdings was nine sen weaker at RM7.40.

On the index board, the FBM Emas Index weakened 28.46 points to 12,054.24, the FBMT 100 Index sank 23.06 points to 11,790.33, the FBM Emas Shariah Index erased 10.16 points to 12,147.29 and the FBM ACE Index edged down 32.74 points to 5,278.69. The FBM 70 Index improved 2.31 points to 17,117.24.

By sector, the Financial Services Index reduced 72.17 points to 18,181.31, the Industrial Products and Services Index decreased 0.29 of a point to 170.92, the Energy Index trimmed 4.44 points to 787.84, while the Plantation Index widened 5.35 points to 7,907.42.

-- BERNAMA