FBM KLCI Marginally Lower At Midday

KUALA LUMPUR, June 24 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) continued to ease at the end of the morning trading session today, weighed down by persistent selling in selected heavyweights, coupled with declining oil prices amidst the ongoing tension in the Middle East.

At 12.30 pm, the benchmark index inched down 0.37 of-a-point, or 0.02 per cent, to 1,516.24, compared with Monday’s close of 1,516.61.

The FBM KLCI, which opened 2.36 points lower at 1,514.25, moved between 1,511.09 and 1,519.06 during the session.

The broader market was positive with gainers surpassing decliners 528 to 327, while 393 counters were unchanged, 1,190 untraded and 41 suspended.  

Turnover stood at 1.56 billion units worth RM865.60 million.

At the time of writing, the benchmark Brent crude oil price fell 2.42 per cent to US$69.75 per barrel.

Public Investment Bank Bhd said the oil price has dropped nearly all the way back to where it was before the Iran-Israel escalation began over a week ago, after it initially jumped six per cent at the beginning of the tension.

“The losses accelerated sharply after Iran announced a missile attack on Al Udeid Air Base in Qatar, which the United States military uses," it said in a note today.

Among the heavyweights, Maybank edged up 15 sen to RM9.82, Tenaga Nasional gained four sen to RM14.34, while Public Bank shed 14 sen to RM4.28, CIMB lost four sen to RM6.76, and IHH Healthcare fell nine sen to RM6.76.

As for the most active stocks, Cuckoo and Dnonce Technology remained unchanged at RM1.08 and three sen, respectively, NexG added one sen to 36 sen, and Tanco improved 1.5 sen to 93.5 sen.

Meanwhile, oil and gas-related stocks were also in active trading, with Reservoir Link sliding 10 sen to 33 sen, Hibiscus Petroleum declining 15 sen to RM1.68, and Velesto Energy staying unchanged at 18.5 sen.

On the index board, the FBM Emas Index notched up 9.94 points to 11,299.12, the FBMT 100 Index increased 4.90 points to 11,088.80, and the FBM Emas Shariah Index improved 46.39 points to 11,258.30.

The FBM 70 Index gained 40.49 points to 16,112.58 and the FBM ACE Index garnered 23.27 points to 4,401.12.

Sector-wise, the Financial Services Index declined by 30.32 points to 17,642.47 and the Energy Index dropped 17.90 points to 728.05, while the Industrial Products and Services Index notched up 1.34 points to 148.72 and the Plantation Index added 0.64 of-a-point to 7,231.19.

-- BERNAMA