KUALA LUMPUR (April 9): Bursa Malaysia remained lower at midday on Tuesday, as investors liquidated their positions ahead of the Hari Raya holidays, said an analyst.

The FBM KLCI had declined by 3.05 points, or 0.20%, to 1,556.93, from Monday's close at 1,559.98.

The benchmark index opened 0.07 of a point lower at 1,559.91, and moved between 1,555.71 and 1,565.57 throughout the morning trading session. 

On the broader market, losers beat gainers 470 to 398, while 485 counters were unchanged, 990 untraded, and nine others suspended.

Turnover amounted to 2.08 billion units worth RM1.09 billion. 

Stockbroking firm Malacca Securities Sdn Bhd said that trading activities are expected to be subdued at least for this week, given the shortened trading week and mixed sentiment from Wall Street.

"Nevertheless, we believe traders will focus on the utilities sector, as investments in data centres could drive electricity demand going forward.

"Meanwhile, we favour the construction, building materials, and property sectors, in anticipation of more mega infrastructure projects to be announced this year. We also favour commodity-related stocks in the plantation, oil and gas, and gold segments,” it said in a note on Tuesday.

Among the local heavyweights, Malayan Banking Bhd (Maybank) shed four sen to RM9.65 a share, Public Bank Bhd slid one sen to RM4.18, CIMB Group Holdings Bhd dipped seven sen to RM6.57, Tenaga Nasional Bhd slipped 10 sen to RM11.70, while Petronas Chemicals Group Bhd added two sen to RM6.81.

Among the actives, TWL Holdings Bhd at three sen and Velesto Energy Bhd at 27.5 sen were both flat, S P Bhd Setia slid five sen to RM1.40, while YTL Power International Bhd added three sen to RM4.05, and Malaysian Resources Corporation Bhd put on one sen to 68.5 sen.

On the index board, the FBM Emas Index dropped by 18.30 points to 11,715.60, and the FBMT 100 Index decreased by 18.20 points to 11,352.50. The FBM Emas Shariah Index declined 11.70 points to 11,882.80, and the FBM 70 Index went down by 9.87 points to 16,358.40, while the FBM ACE Index rose 28.97 points to 5,009.81.

Sector-wise, the Industrial Products and Services Index eased 0.01 of a point to 184.40, the Financial Services Index slid 56.20 points to 17,248.70, the Plantation Index shed 0.53 of a point to 7,480.52, while the Energy Index climbed 1.77 points to 963.25.

Bursa and its subsidiaries will be closed on Wednesday and Thursday, in conjunction with the Hari Raya Aidilfitri holidays, subject to the official announcement by the Keeper of the Ruler’s Seal.