Bursa Malaysia Marginally Lower At Midday
KUALA LUMPUR, June 4 (Bernama) -- Bursa Malaysia were marginally lower at midday, weighed down by selling activities in selected heavyweights, led by consumer products and services as well as financial services stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.05 per cent, or 0.84 of-a-point easier at 1,502.41, compared to Tuesday’s close of 1,503.25.
The benchmark index opened 3.85 points higher at 1,507.10, subsequently moving between 1,501.11 and 1,507.47 throughout the morning trading session.
The broader market was negative as decliners outnumbered gainers 490 to 327, while 390 counters were unchanged, 1,138 untraded and 25 suspended.
Turnover stood at 1.48 billion units valued at RM832.22 million.
According to news reports, investors are watching for updates on United States President Donald Trump’s tariffs, including the imposition of 50 per cent tariffs on imports of steel and aluminium, set to take effect on Wednesday.
“With industries lobbying for him to expand that protection to products made from those materials, analysts say prices of many basic items will likely rise,” said the report.
Meanwhile, Maybank Investment Bank said investors’ focus has shifted towards more resilient sectors amid the broad-based weakness in the market.
It noted that the real estate investment trust (REIT) index remains firm and is approaching a fresh 52-week high.
“Technically, we expect the benchmark index to range between 1,495 and 1,515 points today, with supports remaining at 1,500-1,440 points,” said the investment bank.
Among the heavyweights, PPB was 26 sen lower at RM10.92, Sime Darby weakened 3.0 sen to RM1.70, RHB Bank declined 9.0 sen to RM6.39, QL Resources fell 6.0 sen to RM4.34, and MR DIY slid 2.0 sen to RM1.57.
As for active stocks, TWL added half-a-sen to 2.5 sen and Tanco rose 1.0 sen to RM1.01, while Bintai and NexG were flat each at 7.5 sen and 37.5 sen, respectively, and Reservoir Link Energy gained half-a-sen to 35.5 sen.
On the index board, the FBM Emas Index narrowed 9.29 points to 11,245.16, the FBMT 100 Index slid 7.51 points to 11,015.21, and the FBM ACE Index decreased 30.66 points to 4,451.15.
The FBM Emas Shariah Index slipped 10.58 points to 11,199.57, while the FBM 70 Index gave up 16.42 points to 16,125.74.
Sector-wise, the Financial Services Index trimmed 22.79 points to 17,739.84, the Industrial Products and Services Index was down 0.48 of-a-point to 149.60 and the Plantation Index shed 24.96 points to 7,193.92, while the Energy Index recovered 1.11 points to 700.07.
-- BERNAMA
