Bursa Malaysia Slips At Midday On Selling In Selected Heavyweights
KUALA LUMPUR, Feb 12 (Bernama) -- Bursa Malaysia slipped by 0.36 per cent at midday, weighed down by Maybank, CIMB and 99 Speed Mart.
Maybank trimmed eight sen to RM12.18, CIMB shed seven sen to RM8.52 and 99 Speed Mart was six sen easier at RM3.95.
These three counters dragged the composite index down by a combined 3.88 points.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 6.39 points to 1,750.0, compared to yesterday’s close of 1,756.39.
The index opened 0.12 of a point lower at 1,755.09 and moved between 1,749.70 and 1,758.06 during the morning trading session.
Market breadth was negative with 514 losers outpacing 388 decliners. Another 498 counters were unchanged, 1,296 untraded, and 11 were suspended.
Turnover totalled 1.48 billion units valued at RM1.25 billion.
In a research note today, Malacca Securities Sdn Bhd said the FBMKLCI extended its upward momentum and traded higher yesterday.
However, it said technical indicators suggest that the momentum is still weak, thus it sees resistance at around 1,771–1,776, with support at 1,736–1,741.
“Given the approaching Chinese New Year and the strengthening ringgit, we believe sentiment will favour PADINI and AEON, justifying their breakouts yesterday,” it said.
Among other heavyweights, Tenaga Nasional was two sen lower at RM13.98, IHH eased one sen to RM8.74 and Press Metal slipped five sen to RM7.70, while SD Guthrie rose one sen to RM5.81.
On the most active list, newly-listed Kee Ming jumped 47.5 sen to 85.5 sen and Zetrix AI was 1.5 sen better at 83 sen, while Pharmaniaga lost one sen to 31.5 sen and Borneo Oil sank half-a-sen to half-a-sen.
As for the leading decliners, Nestle was 70 sen lower at RM110.60, United Plantations was 62 sen lower at RM29.58, and Hong Leong eased 12 sen to RM24.68.
On the index board, the FBM Top 100 Index fell 30.51 points to 12,625.10, the FBM Emas Index reduced 28.59 points to 12,800.18 and the FBM Emas Shariah Index declined 12.81 points to 12,249.62, while the FBM Mid 70 Index advanced 27.84 points to 17,585.13, and the FBM ACE Index gained 9.08 points to 4,759.57.
Sector-wise, the Financial Services Index trimmed 90.34 points to 21,780.04, the Plantation Index dropped 19.97 points to 8,365.92, and the Industrial Products and Services Index fell 0.05 of-a-point to 176.46, while the Energy Index gained 2.21 points to 751.30.
-- BERNAMA
