KUALA LUMPUR, Jan 13 (Bernama) -- Bursa Malaysia ended the morning session in the red due to continuous selling in heavyweight stocks, led by utilities and financial services counters.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.39 points to 1,583.02 compared with Friday’s close of 1,602.41.
The benchmark index, which opened 3.45 points lower at 1,598.96, moved between 1,582.01 and 1,599.36 during the session.
Decliners outnumbered advancers by 886 to 179, with 356 counters unchanged, 948 untraded and 19 suspended.
Turnover stood at 1.79 billion shares valued at RM1.22 billion.
Malacca Securities Sdn Bhd said traders may focus on the oil and gas (O&G) sector amid the surge in Brent crude oil prices and export-oriented stocks, which could benefit from the strengthening of the US dollar, which is currently hovering around the two-year high.
“However, the upside of the technology stocks may be limited following the announcement of further US restrictions on artificial intelligence chip exports to Malaysia.
“Nevertheless, we believe domestic-themed plays may take the lead in the near term ahead of US President Donald Trump’s inauguration on Jan 20,” it said in a note today.
The stockbroking firm said key themes to watch include the Johor-Singapore Special Economic Zone initiative, Penang’s ongoing light rail transit project and the potential emergence of Sarawak as an energy hub.
Among the heavyweights, Maybank was flat at RM10.10, CIMB reduced 18 sen to RM8.00, Public Bank eased one sen to RM4.43 and Tenaga dropped 30 sen to RM13.80, while IHH Healthcare added four sen to RM7.10.
As for the active stocks, Key Alliance and Velocity Capital eased half a sen each to 0.5 sen and eight sen, respectively, Swift Energy declined two sen to 36.5 sen, and JCY International weakened four sen to 49 sen. Velesto Energy was flat at 16 sen.
The FBM Emas Index fell 150.14 points to 12,152.62, the FBM Emas Shariah Index sank 152.86 points to 12,097.88, and the FBMT 100 Index declined 144.76 points to 11,839.08.
The FBM 70 Index dropped 222.36 points to 18,245.17 while the FBM ACE Index decreased 98.04 points to 5,255.43.
By sector, the Energy Index weakened 3.86 points to 829.44, the Financial Services Index dipped 133.52 points to 18,791.02, the Industrial Products and Services Index edged down 2.39 points to 168.27, and the Plantation Index fell 58.99 points to 7,451.63.
-- BERNAMA
