Bursa turns slightly lower at midday

TheEdge Thu, Aug 18, 2022 12:59pm - 1 year View Original


KUALA LUMPUR (Aug 18): The benchmark index of Bursa Malaysia ended the morning trading session on a slightly weaker note, as emerging profit-taking on selected heavyweights offset earlier gains, dealers said.

At lunch break, the FBM KLCI had slipped one point to 1,517.16, compared with Wednesday’s (Aug 17) close at 1,518.16.

The key index opened 1.38 points easier at 1,516.78, moving between 1,516.55 and 1,522.52 throughout the morning session.

On the broader market, losers led gainers 476 to 264, while 377 counters were unchanged, 1,181 untraded, and six others suspended.

Turnover stood at 1.38 billion units worth RM955.39 million.

In a note on Thursday, Rakuten Trade said it expects banking and plantation stocks to shine in the ongoing earnings reporting season.

“As such, we expect buying interest to remain for these sectors. For today (Thursday), we anticipate the index to trend within the 1,510-1,525 range,” it said.

Meanwhile, Bursa heavyweights Malayan Banking Bhd (Maybank) was flat at RM8.97 and Public Bank Bhd was also flat at RM4.65, while another three counters added three sen, with Petronas Chemicals Group Bhd at RM8.75, IHH Healthcare Bhd at RM6.53 and CIMB Group Holdings Bhd at RM5.48.

Of the actives, ACE Market debutant Agmo Holdings Bhd jumped 49 sen to 75 sen, Cnergenz Bhd advanced 19 sen to 91.5 sen, and Hartalega Holdings Bhd rose two sen to RM1.76, while Pegasus Heights Bhd eased half a sen to one sen.

On the index board, the FBM Emas Index was 6.50 points lower at 10,737.34, the FBMT 100 Index shed 5.66 points to 10,486.49, the FBM Emas Shariah Index declined 18.80 points to 10,881.44, the FBM 70 slipped 19.3 points to 12,764.62, and the FBM ACE reduced 11.08 points to 4,938.18.

Sector-wise, the Financial Services Index gained 36.75 points to 16,825.53 and the Energy Index went up 4.03 points to 663.63, while the Industrial Products and Services Index eased 0.59 of a point to 182.98, and the Plantation Index declined 37.03 points to 7,257.69.

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