Kuala Lumpur: Bursa Malaysia experienced a downturn at midday due to ongoing profit-taking activities in selected heavyweights. This was attributed to investor concerns regarding the outlook of the global market, as explained by a market dealer.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped by 0.34 percent, or 5.15 points, reaching 1,534.398 compared to last Monday’s closing figure of 1,539.54. The benchmark index started the day with a slight increase of 1.10 points at 1,540.64, fluctuating between 1,533.48 and 1,544.98 during the morning trading session.
Market breadth was negative, with 532 decliners surpassing 262 gainers. Meanwhile, 417 counters remained unchanged, 1,124 were untraded, and 17 were suspended. Turnover was recorded at 1.93 billion shares, amounting to RM916.04 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that market attention has turned to the US Federal Reserve policy meeting commencing today. He stated, “We believe foreign buying may persist. Hence, (we) anticipate the index to trend within the 1,540-1,550 range today.” Additionally, he pointed out that crude palm oil prices continue to decline, aligning with weak crude oil prices that saw Brent crude stabilizing at around the US$60 per barrel mark.
In terms of individual stocks, Maybank and Public Bank each fell by 2.0 sen to RM9.98 and RM4.45, respectively. CIMB decreased by 21 sen to RM6.87, Tenaga Nasional rose by 16 sen to RM13.96, while IHH Healthcare remained unchanged at RM7.
In active trade, Permaju increased by half-a-sen to 3.5 sen, while Ekovest and Velesto each decreased by half-a-sen to 32.5 sen and 15 sen, respectively. SFP Tech declined by 1.0 sen to 22.5 sen.
On the index board, the FBM Emas Index fell by 44.58 points to 11,396.60, and the FBMT 100 Index decreased by 43.14 points to 11,172.12. The FBM Emas Shariah Index also weakened by 44.58 points to 11,396.60. The FBM 70 Index dropped by 84.59 points to 16,047.90, and the FBM ACE Index slipped by 0.37 of-a-point to 4,624.69.
In various sectors, the Financial Services Index was reduced by 180.93 points to 18,095.24, the Industrial Products and Services Index fell by 0.82 of-a-point to 150.97, the Energy Index decreased by 3.85 points to 678.86, while the Plantation Index gained 10.96 points to 7,259.58.