Bursa ends morning session marginally lower

TheEdge Thu, Oct 19, 2023 01:07pm - 4 months View Original

KUALA LUMPUR (Oct 19): Bursa Malaysia ended Thursday's morning trading session in the red, in line with regional peers, after US stocks ended sharply lower on Wednesday, dealers said.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.93 points to 1.444.61 from Wednesday’s closing of 1,446.54.

The index, which opened 3.28 points lower at 1,443.26, moved between 1,441.34 and 1,445.18 during the session.

On the broader market, decliners outpaced gainers 438 to 280, while 429 counters were unchanged, 1,204 untraded and 10 suspended.

Turnover stood at 1.72 billion units worth RM880.65 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the overnight Wall Street closed broadly lower amid a surging US Treasury 10-year yield, while traders ignored reported earnings where the majority came in above expectations.

"For today, we reckon accumulation of stocks to persist but muted, thus we anticipate the index to move in a tight range of between 1,440 and 1,450 today,” he said.

Regionally, Singapore's Straits Times Index eased 0.64% to 3,151.59, Japan’s Nikkei 225 slid 0.07% to 32,018.52, Hong Kong’s Hang Seng Index trimmed 0.1% to 17,755.25 and China’s SSE Composite slipped 0.61% to 3,064.76, while South Korea’s Kospi added 0.07% to 2,461.81.

Back home, Bursa heavyweights Public Bank Bhd shed three sen to RM4.14, Tenaga Nasional Bhd slipped three sen to RM9.99, and Petronas Chemicals Group Bhd fell 17 sen to RM7.48, while CIMB Group Holdings Bhd added two sen to RM5.59, and Malayan Banking Bhd was flat at RM8.95.

Of the actives, Icon Offshore Bhd reduced two sen to 11 sen, Minox International Group Bhd edged up half-a-sen to 34 sen, Sealink International Bhd added 1.5 sen to 24.5 sen and UEM Sunrise Bhd gained three sen to 78 sen while Sarawak Consolidated Industries Bhd was flat at 52 sen.

On the index board, the FBM Emas Index declined 18.95 points to 10,654.80, the FBMT 100 Index shed 18.30 points to 10,328.26, the FBM Emas Shariah Index slipped 27.12 points to 10,920.95, the FBM 70 Index fell 44.57 points to 14,034.58 and the FBM ACE Index lost 12.03 points to 5,059.80.

Sector-wise, the Industrial Products and Services Index inched down 1.64 points to 174.90 and the Financial Services Index eased 2.43 points to 16,163.41, while the Energy Index climbed 1.32 points to 880.01 and the Plantation Index increased by 9.11 points to 6,937.49.

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