Bursa lower at midday

TheEdge Tue, Feb 28, 2023 12:56pm - 6 months View Original

KUALA LUMPUR (Feb 28): Bursa Malaysia ended the morning session lower on Tuesday (Feb 28), amid not-so-rosy economic data that showed inflation continuing to soar in the US and a slew of earnings reports domestically.

At 12.30pm, the benchmark FBM KLCI had fallen 1.44 points to 1,454.06, from Monday’s closing at 1,455.50. 

The index opened 0.99 of a point higher at 1,456.49, and moved between 1,452.52 and 1,458.97 during the morning session.

Market breadth remained negative, with decliners beating advancers 639 to 215, while 309 counters were unchanged, 1,084 untraded, and 55 others suspended.

Turnover stood at 2.41 billion units worth RM1.1 billion.

Investors are awaiting the US Conference Board’s consumer confidence data and Chicago manufacturing purchasing managers index to gauge the US Federal Reserve’s tone in terms of its interest rate direction.

‘’We reckon cautious sentiment will prevail on the local front, with foreign investors turning into net sellers, but bargain-hunting may be noticed,’’ Malacca Securities Sdn Bhd said in a note.

A trader said investors could be seen nibbling on selected counters, mainly in the banking sector after their positive 2022 performance, and in plantation due to higher crude palm oil prices.

Among the heavyweights, Tenaga Nasional Bhd fell 18 sen to RM9.46, Press Metal Aluminium Holdings Bhd dropped nine sen to RM5.06, and Digi.Com Bhd was five sen lower at RM4.25.

Meanwhile, CIMB Group Holdings Bhd climbed six sen to RM5.60, while Malayan Banking Bhd (Maybank) rose two sen to RM8.78.

As for the active stocks, Velesto Energy Bhd dropped nine sen to 18.5 sen, Pharmaniaga Bhd lost 17.5 sen to 26.5 sen, and RGB International Bhd slid 3.5 sen to 20 sen.

On the index board, the FBM Emas Index trimmed 32.24 points to 10,573.01, the FBMT 100 Index edged down 15.02 points to 10,263.12, the FBM ACE Index fell 137.89 points to 5,398.82, the FBM Emas Shariah Index reduced 76.26 points to 10,783.76, and the FBM 70 Index decreased 40.48 points to 13,394.01.

Sector-wise, the Financial Services Index gained 67.92 to 16,198.94, the Energy Index dropped 43.46 points to 846.48, the Plantation Index rose 18.58 points to 6,788.02, and the Industrial Products and Services Index shaved 1.53 points to 176.53.  

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.

Related Stocks

BURSA 6.860
CDB 4.500
CIMB 5.590
FBMKLCI 1450.230
PHARMA 0.445
PMETAL 4.860
RGB 0.315
TENAGA 10.160


Login to comment.