Bursa Malaysia Lower At Midday On Mild Selling Pressure
KUALA LUMPUR, Dec 22 (Bernama) -- Bursa Malaysia was lower at midday as mild selling pressure in selected heavyweight stocks weighed on the market following recent gains, diverging from the positive performance seen across regional markets.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.66 of a point to 1,665.24 from Friday’s close of 1,665.90.
The benchmark index, which opened 1.62 points weaker at 1,664.28, moved between 1,663.12 and 1,667.78 during the morning session.
In the broader market, decliners led gainers 518 to 377, while 491 counters were unchanged, 1,393 untraded, and 16 suspended.
Turnover reached 1.40 billion units valued at RM927.17 million.
Regionally, Hong Kong’s Hang Seng Index gained 0.20 per cent to 25,742.24, Japan's Nikkei 225 Index increased 1.88 per cent to 50,420.12, South Korea’s Kospi Index edged up 1.69 per cent to 4,088.56, and Singapore’s Straits Times Index was 0.79 per cent higher at 4,605.77.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said there is high possibility that the index would test the 1,700 psychological level soon.
“We expect the index to trend between the 1,650-1,665 range (today), underpinned by the strengthening ringgit,” he said.
Among the heavyweights, Maybank gained four sen to RM10.48, Tenaga Nasional rose 16 sen to RM13.52 and IHH Healthcare increased five sen to RM8.57, while CIMB and Public Bank fell one sen each to RM8.14 and RM4.51, respectively.
On the most active list, Tanco decreased two sen to RM1.11, Dagang Nexchange rose two sen to 31.5 sen, and Zetrix AI and BMS were flat at 80.5 sen and 20 sen, respectively, while Pharmaniaga lost half-a-sen to 27.5 sen.
Of the top gainers, Hong Leong Financial Group increased 28 sen to RM18.54, Malaysian Pacific and Malayan Cement added 24 sen each to RM32.44 and RM7.14, respectively, and Coastal Contracts rose 18 sen to RM1.40.
As for the top losers, Nestle slid RM1.40 to RM114.90, BLD Plantation lost RM1.04 to RM15.00, and Dutch Lady and Fraser & Neave declined 42 sen each to RM30.08 and RM35.90, respectively.
On the index board, the FBM Emas Index weakened 1.26 points to 12,231.82, the FBMT 100 Index shed 0.98 of a point to 12,029.77 and the FBM Emas Shariah Index ticked down 2.60 points to 12,023.10, while the FBM ACE Index garnered 10.23 points to 4,825.11 and the FBM 70 Index increased 15.56 points to 16,828.75.
Sector-wise, the Plantation Index trimmed 102.23 points to 8,188.93 and the Energy Index shaved off 3.72 points to 765.26, while the Financial Services Index perked up 31.27 points to 19,593.03 and the Industrial Products and Services Index strengthened 1.34 points to 171.73.
-- BERNAMA