KUALA LUMPUR (Jan 25): Bursa Malaysia ended the morning session lower today, despite positive sentiment on regional markets, as emerging profit taking in selected technology and consumer product counters cancelled earlier gains, a dealer said.

At the lunch break, the benchmark FBM KLCI had declined 4.19 points to 1,592.55 after moving between 1,592.19 and 1,600.54 throughout the session.

The index opened 3.80 points higher at 1,600.54, compared with last week’s close at 1,596.74. On the broader market, losers thumped gainers 965 to 223, while 319 counters were unchanged, 611 untraded and 20 others suspended.

Volume stood at 3.68 billion units worth RM2.5 billion.

A dealer said most of the Asian shares were on upward momentum today as concerns over rising Covid-19 cases and delays in vaccine supplies were calmed by expectations of a US$1.9 trillion (RM7.69 trillion) fiscal stimulus plan to help revive the US economy.

However, he said investors were also wary of towering valuations amid questions about the efficiency of vaccines in curbing the pandemic and as US lawmakers continued to debate the coronavirus aid package.

Among the heavyweights, Malayan Banking Bhd (Maybank) slipped three sen to RM7.97, Public Bank Bhd declined 26 sen to RM21.40, Petronas Chemicals Group Bhd (PetChem) went down 29 sen to RM 7.06, and Tenaga Nasional Bhd (TNB) reduced four sen to RM9.74, while Top Glove Corp Bhd improved 23 sen to RM6.48.

Of the actives, Dagang NeXchange Bhd (DNeX) rose 3.5 sen to 29.5 sen, Luster Industries Bhd advanced 1.5 sen to six sen, and Bioalpha Holdings Bhd earned half a sen to 30.5 sen, while QES Group Bhd decreased two sen to 36 sen.

On the index board, the FBM Emas Index fell 83.51 points to 11,480.27, the FBMT 100 Index narrowed 70.72 points to 11,224.04, and the FBM Emas Shariah Index was 62.71 points lower at 12,986.24.

The FBM 70 dropped 252.95 points to 14,648.73, and the FBM ACE decreased 47.23 points to 10,710.28.

Sector-wise, the Financial Services Index lost 165.09 points to 14,720.57, while the Plantation Index increased 1.28 points to 7,224.44, and the Industrial Products and Services Index slipped 4.86 points to 172.59.