Bursa Malaysia Ends Morning Session Lower

By Zarul Effendi Razali

KUALA LUMPUR, Sept 30 (Bernama) -- Bursa Malaysia ended the morning session lower today, in line with the weaker performance in the regional markets due to the geopolitical concerns in the Middle East, said an analyst.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 6.06 points, or 0.37 per cent, to 1,654.03, against Friday’s close of 1,660.09. The benchmark index opened 1.80 points higher at 1,661.89.

Across the broader market, decliners outnumbered advancers 604 to 399, with 439 counters unchanged, 1,040 untraded and 79 suspended. Turnover stood at 2.32 billion shares worth RM1.25 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates the local benchmark index to range between 1,660 and 1,670 today.

“The FBM KLCI continued to consolidate despite several attempts to break out. However, we anticipate an upward shift, driven by buying interest due to attractive valuations, improving economic conditions, and robust corporate earnings,” he told Bernama.

Meanwhile, he said Wall Street closed mixed on Friday as sentiment turned mixed following a series of disappointing jobs reports.

“Investors are hoping for a soft landing, with the US Federal Reserve taming inflation without significantly harming growth, bolstered by the 50 basis point rate cut delivered at this month's policy meeting,” he said.

Bursa heavyweight counters Maybank rose 2.0 sen to RM10.52, Public Bank slipped 3.0 sen to RM4.56, IHH Healthcare fell 5.0 sen to RM7.15, while CIMB and Tenaga Nasional went down 14 sen each to RM8.10 and RM14.52, respectively.

Among the active counters, Capital A added 4.5 sen to 98.5 sen, Focus Dynamics increased 1.0 sen to 3.0 sen, Pegasus was flat at half-a-sen while Lambo Group eased half-a-sen to half-a-sen.

Meanwhile, in a filing with Bursa Malaysia today, AT Sytematization Bhd said it has changed its name to Erdasan Group Bhd and will be traded and quoted under the new name effective 9.00 am, Wednesday, Oct 2, 2024.

On the index board, the FBM Emas Index lost 40.11 points to 12,346.49, the FBMT 100 Index fell 38.73 points to 12,049.44 and the FBM 70 Index edged down 35.68 points to 17,402.80.

The FBM ACE Index gained 7.80 points to 5,165.85, and the FBM Emas Shariah Index lost 80.98 points to 12,262.06.

By sector, the Plantation Index dropped 11.99 points to 7,181.24 and the Financial Services Index lost 123.22 points to 19,343.11. The Industrial Products and Services Index edged down 0.49 of-a-point to 176.85, and the Energy Index reduced 11.47 points to 845.28. 

-- BERNAMA