Bursa ends morning session lower

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KUALA LUMPUR (Sept 17): Bursa Malaysia ended the morning trading session easier, driven by persistent selling of selected heavyweights led by Petronas Dagangan Bhd (PetDag).


At lunch break, the benchmark FBM KLCI settled 7.24 points lower at 1,548.02 from Wednesday’s close at 1,555.26.

The index, which opened 1.09 points better at 1,556.35, moved between 1,547.04 and 1,556.74 during the morning session.

Market breadth was negative with losers leading gainers 583 to 403, while 387 counters were unchanged, 895 untraded and 10 others suspended.

Turnover stood at 2.74 billion units worth RM1.71 billion.

Rakuten Trade Sdn Bhd anticipated for the KLCI to hover in the range of 1,560-1,570, driven by sustained buying support from foreign funds.

“Global markets struggled to gain momentum yesterday as Wall Street trended slightly lower with mixed sentiment, weighed by concerns about a possible slowdown in the economic recovery from Covid-19.

“Investors were carefully weighing economic data for signals of how the economic backdrop could impact the earnings picture for major companies,” it said in a note today.

The brokerage said the local market was well supported at around the 1,550 region by continuous foreign inflows.


A total of 25 of the KLCI’s top 30 component stocks were lower today, while four counters chalked up gains and one was flat.

Among the heavyweights, Malayan Banking Bhd (Maybank) fell two sen to RM8.27, Petronas Chemicals Group Bhd (PetChem) slipped seven sen to RM7.94 and Press Metal Aluminium Holdings Bhd erased four sen to RM5.70, while Public Bank Bhd was flat at RM4.01.

Of the actives, KTG Bhd was flat at 14 sen, Emico Holdings Bhd added 13 sen to 65.5 sen and AT Systematization Bhd slid half a sen to six sen.

Among the top losers, Nestlé (Malaysia) Bhd erased 50 sen to RM134.20, SAM Engineering & Equipment (M) Bhd lost 30 sen to RM14.18, and Petronas Dagangan Bhd (PetDag) dropped 28 sen to RM19.50.

On the index board, the FBM Emas Index decreased 38.85 points to 11,357.00, the FBMT 100 Index was 36.29 points easier at 11,049.99 and the FBM Emas Shariah Index contracted 51.76 points to 12,426.03.

The FBM 70 firmed 10.87 points to 14,969.24, while the FBM ACE eased 6.57 points to 7,189.18.

Sector-wise, the Plantation Index trimmed 76.47 points to 6,442.98, the Industrial Products and Services Index went down 0.80 of a point to 198.90, and the Financial Services Index fell 24.66 points to 15,239.85. -BERNAMA -The Edge Markets

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