KUALA LUMPUR (Sept 8): Bursa Malaysia ended the morning trading session today slightly lower, with the key index moving in a tight range amid selling in selected heavyweight counters, dealers said.
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At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.27 points to 1,581.21 from Tuesday’s close of 1,583.48.
After opening 1.76 points easier at 1,581.72, the FBM KLCI moved between 1,580.67 and 1,586.71 during the morning session.
On the broader market, decliners outpaced gainers 637 to 316, while 430 counters were unchanged, 854 untraded and 25 others suspended.
Turnover stood at 3.57 billion units worth RM1.55 billion.
A dealer said Bursa Malaysia opened higher but turned choppy while tracking the performance of regional peers.
ActivTrades trader Anderson Alves said Asian equities were weak on Wednesday, following a negative handover from Wall Street amid weakness in the cyclical sectors, rising US Treasury yields, and a Bitcoin sell-off. “Some signs of potential headwinds for the US economy are beginning to emerge, which will be closely watched in Asia,” he noted.
Recent news flow suggested that US Senator Joe Manchin had opposed US President Joe Biden’s US$3.5 trillion stimulus plan, which could cause further headwinds for the US economy, and prompt the market to revise its growth and fiscal support expectations for the months ahead.
On the China front, he noted that the country’s banking sector is likely to take a hit as China’s crackdown continues. It was reported that Chinese commercial banks that have not set up a wealth management subsidiary may not be allowed to add new wealth management services as officials try to limit financial risks coming from the sector, he shared.
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Regionally, Hong Kong’s Hang Seng Index decreased 0.61% to 26,217.38, Singapore’s Straits Times Index shed 0.72% to 3,086.06, South Korea’s Kospi slipped 0.92% to 3,158.18 while Japan’s Nikkei 225 rose 0.31% to 30,009.08.
Back home, among the heavyweights, Malayan Banking Bhd added four sen to RM8.31, Petronas Chemicals Group Bhd gained five sen to RM8.10 and IHH Healthcare Bhd rose eight sen to RM6.38.
Tenaga Nasional Bhd fell six sen to RM10.28 and Public Bank Bhd was flat at RM4.10.
Of the actives, KNM Group Bhd eased five sen to 26.5 sen, Fintec Global Bhd and JAKS Resources Bhd edged up half-a-sen each to 2.5 sen and 52 sen respectively, PUC Bhd improved 1.5 sen to 18 sen, while Metronic Global Bhd was flat at 3.5 sen.
On the index board, the FBM Emas Index retreated 24.97 points to 11,575.39, the FBMT 100 Index was 18.67 points easier at 11,267.61, and the FBM Emas Shariah Index slipped 43.28 points to 12,668.61.
The FBM 70 shed 34,01 points to 15,188.67 and the FBM ACE dropped 91.82 points to 7,268.48.
Sector wise, the Plantation Index climbed 19.31 points to 6,640.57, the Financial Services Index advanced 29.59 points to 15,467.67 but the Industrial Products and Services Index eased 0.25 of-a-point to 201.03. -BERNAMA -The Edge Markets