Bursa Slips 0.73 Pct At Midday As Investors Trim Positions Ahead Of Weekend

KUALA LUMPUR, July 25 (Bernama) -- Bursa Malaysia finished the morning session in the red, losing 0.73 per cent as cautious sentiment prompted portfolio adjustment ahead of the weekend.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gave up 11.23 points to 1,529.09, compared to yesterday’s close of 1,540.32.

The benchmark index opened 1.60 points lower at 1,538.66 and moved between 1,525.98 to 1,539.82 throughout the morning session.

Broader market sentiment was bearish, with losers edging past gainers 569 to 270, while 405 counters were unchanged, 1,282 untraded, and 44 suspended.

Turnover stood at 2.02 billion units worth RM1.09 billion.

In a research note, Malacca Securities Sdn Bhd observed a developing uptrend in select sectors, particularly those linked to utilities and data centre infrastructure.

The brokerage also said investors may consider accumulating banking stocks for long-term positions, despite the recent overnight policy rate (OPR) cut, noting that the Bursa Malaysia Finance Index has retreated approximately 10 per cent from its year-to-date high.

It identified Malayan Banking Bhd, AMMB Holdings Bhd, and RHB Bank Bhd as attractive picks due to their solid dividend yields.

On the consumer front, Malacca Securities added that RM100 cash handouts and price controls on tolls and RON95 fuel are likely to boost short-term consumer spending, potentially benefiting retail-focused counters such as 99 SpeedMart, Ecoshop, and MR DIY.

Among the heavyweights, Maybank down eight sen to RM9.55, Public Bank erased three sen to RM4.28, Tenaga Nasional declined 46 sen to RM13.80, CIMB rose four sen to RM6.74, IHH Healthcare and CelcomDigi were one sen better at RM6.60 and RM3.84, respectively.

As for the actives, NexG and Velesto added one sen each to 52.5 sen and 19 sen, respectively. Lotte Chemical eased half a sen to 70 sen, while Zetrix and Focus Dynamics were flat at 91.5 sen and one sen, respectively.

Across the broader market, the FBM Emas Index dropped 68.58 points to 11,482.59, the FBMT 100 Index slipped 69.61 points to 11,244.95, and the FBM Emas Shariah Index declined 79.25 points to 11,244.95.

The FBM 70 Index eased 46.06 points to 16,612.81, while the FBM ACE Index shed 18.58 points to 4,623.93.

By sector, the Financial Services Index fell 58.67 points to 17,446.91, the Plantation Index lost 54.85 points to 7,415.11, and the Industrial Products and Services Index was 1.32 points lower at 156.84. The Energy Index, however, rose 3.05 points to 741.73.

-- BERNAMA