Bursa remains mixed at midday

TheEdge Wed, Sep 07, 2022 01:19pm - 4 months View Original

KUALA LUMPUR (Sept 7): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the morning trading session mixed due to the uncertain global markets outlook, amid growing fears of an aggressive interest rate hike in the US and China’s move to ramp up its stringent Covid-19 curbing measures.

At 12.30pm, the FBM KLCI rose by 2.39 points to 1,490.66 from Tuesday’s close of 1,488.27.

The benchmark index opened 2.35 points weaker at 1,485.92, and moved between 1,483.29 and 1,492.07 during the session.

However, on the broader market, losers outnumbered gainers 468 to 240, while 367 counters were unchanged, 1,199 untraded and eight others suspended.  

Turnover stood at 1.35 billion units worth RM666.96 million.

In a note, Malacca Securities Sdn Bhd said downside risks remain amid the extended downtrend on Wall Street although bargain-hunting activities were sighted in technology counters on Tuesday.

“Nevertheless, we believe that solid consumer stocks, as well as the banking stocks, should remain stable," it said.

At lunch break, Bursa heavyweights Malayan Banking Bhd (Maybank) added three sen to RM8.93, Petronas Chemicals Group Bhd was 27 sen stronger at RM9.01 and IHH Healthcare Bhd perked up six sen to RM6.21, while Public Bank Bhd lost two sen to RM4.64 and CIMB Group Holdings Bhd shed one sen to RM5.45.

Of the actives, Metronic Global Bhd slid half-a-sen to seven sen while Ta Win Holdings Bhd, too, declined half-a-sen to 6.5 sen. Sapura Energy Bhd eased one sen to four sen, while Sanichi Technology Bhd stayed flat at 2.5 sen and Cengild Medical Bhd rose three sen to 54

On the index board, the FBM Emas Index improved by 2.25 points to 10,571.15, the FBM Emas Shariah Index ticked up 0.13 of-a-point to 10,634.18, the FBMT 100 Index perked up 4.61 points to 10,322.15, while the FBM 70 was 42.61 points weaker at 12,640.62 and the FBM ACE reduced 27.57 points to 4,772.82.  

Sector-wise, the Energy Index was down by 13.33 points to 708.11 and the Plantation Index shed 23.69 points to 7,005.62, while the Financial Services Index inched up 0.8 of-a-point to 16,735.7 and the Industrial Products and Services Index was 1.2 points higher at 184.83.

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