Bursa lower as investors stay cautious ahead of GE15

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KUALA LUMPUR (Nov 15): Bursa Malaysia finished Tuesday’s (Nov 15) morning session lower as investors remained cautious ahead of the 15th general election (GE15) this Saturday (Nov 19).

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At the lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.13 points to 1,454.87 from Monday’s close of 1,464.

The market bellwether opened 2.49 points easier at 1,461.51.

On the broader market, decliners outpaced gainers 450 to 283, while 352 counters were unchanged, 1,240 untraded, and 13 others suspended.

Turnover stood at 1.61 billion units valued at RM800.69 million.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng expects the FBM KLCI to hover between the 1,460 and 1,475 range on Tuesday as the ringgit continues to strengthen against the US dollar.

“We noticed the market undertone remains strong as there were some accumulations on utilities and healthcare stocks.

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“Besides, concerns on global demand from the Organization of the Petroleum Exporting Countries (OPEC) saw the Brent crude dip to below the US$93 per barrel, thus the energy sector may experience some headwinds today (Tuesday, Nov 15),” he told Bernama.

Among Bursa Malaysia heavyweight stocks, Malayan Banking Bhd (Maybank) trimmed two sen to RM8.57, Public Bank Bhd shed two sen to RM4.36, Petronas Chemicals Group Bhd gave up four sen to RM8.68, IHH Healthcare Bhd declined four sen to RM5.95, and CIMB Group Holdings Bhd slipped six sen to RM5.43.

Among the actives, Advance Synergy Bhd shed 1.5 sen to 12.5 sen, XOX Bhd eased half-a-sen to two sen, and Supermax Corporation Bhd shrank one sen to 96.5 sen, while Borneo Oil Bhd was flat at two sen, and Top Glove Corporation Bhd was unchanged at RM1.02.

On the index board, the FBM Emas Shariah Index contracted 54.89 points to 10,465.49, the FBM Emas Index lost 53.01 points to 10,342.16, the FBMT 100 Index lessened by 56.73 points to 10,071.26, the FBM 70 narrowed 43.58 points to 12,321.89, and the FBM ACE reduced 2.54 points to 5,007.49.

Sector-wise, the Financial Services Index declined 69.74 points to 16,219.18, the Industrial Products and Services Index eased 0.21 of-a-point to 178.93, the Energy Index inched down 4.65 points to 727.1, and the Plantation Index narrowed 6.56 points to 6,895.8.-BERNAMA


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