KUALA LUMPUR (March 22): Bursa Malaysia dipped into the red at the midday break on Friday, in tandem with a bearish performance regionally. 

At 12.30pm, the FBM KLCI had slipped 1.87 points to 1,539.54 from Thursday’s close at 1,541.41, weighed down mainly by plantation-related counters.  

The benchmark index, which opened 0.15 of a point better at 1,541.56, moved between 1,538.58 and 1,543.84 throughout the morning session. 

Market breadth was negative, with decliners outpacing advancers 496 to 460, while 463 counters were unchanged, 916 untraded, and 18 others suspended. Turnover amounted to 2.59 billion units worth RM1.30 billion.

Most key regional markets were lower at midday, as they retreated from recent highs.

Hong Kong’s Hang Seng Index tumbled 3.04% to 16,350.56, South Korea’s Kospi dropped 0.39% to 2,744.06, and Singapore’s Straits Times Index eased 0.29% to 3,210.94. China's SSE Composite Index slid 0.41% to 3,033.77. 

Meanwhile, crude palm oil traded sideways within the RM4,200-RM4,300 per tonne range, according to Malacca Securities Sdn Bhd. 

"On local catalysts, we expect the Johor [development] theme, the Kuala Lumpur-Singapore high-speed rail, as well as the National Energy Transition Roadmap to provide upside opportunities for construction, property and renewable energy," it said. 

Among the heavyweight stocks, CIMB Group Holdings Bhd shaved one sen to RM6.54, Tenaga Nasional Bhd dropped four sen to RM11.50, and Petronas Chemicals Group Bhd slipped three sen to RM6.84. Malayan Banking Bhd (Maybank) was flat at RM9.55, and Public Bank Bhd gained two sen to RM4.24. 

Among the actives, ACE Market debutant Alpha IVF Group Bhd at 32 sen and Borneo Oil Bhd at half a sen were both flat. Pan Malaysia Holdings Bhd added two sen to 21 sen, Fitters Diversified Bhd edged up half a sen to six sen, and Sarawak Cable Bhd recovered five sen to 21 sen.  

On the index board, the FBM Emas Index shed 1.65 points to 11,534.84, the FBMT 100 Index was 2.08 points easier at 11,183.82, and the FBM Emas Shariah Index lost 5.65 points to 11,626.65.

The FBM 70 Index advanced 44.39 points to 15,943.07, and the FBM ACE Index perked up 17.04 points to 4,852.37. 

Sector-wise, the Plantation Index lost 15.11 points to 7,337.56, the Industrial Products and Services Index trimmed 0.06 of a point to 178.96, and the Energy Index slipped 2.36 points to 932.25. However, the Financial Services Index expanded by 29.05 points to 17,172.73.