Profit-taking drags Bursa Malaysia lower at midday
The benchmark index opened 0.86 of-a-point higher at 1,649.56 and moved between 1,637.45 and 1,660.29 during the morning session. - BERNAMA
KUALA LUMPUR: Bursa Malaysia was lower at midday, weighed down by profit-taking in utilities and financial stocks, alongside mixed performances from regional peers.
At the lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.18 per cent or 2.98 points, to 1,645.72 from its previous close of 1,648.70.
The benchmark index opened 0.86 of-a-point higher at 1,649.56 and moved between 1,637.45 and 1,660.29 during the morning session.
On the broader market, decliners outnumbered advancers 667 to 365, with 440 counters unchanged, 1,008 untraded and seven suspended.
Turnover stood at 2.38 billion units valued at RM2.18 billion.
Malacca Securities Sdn Bhd noted that the positive overnight performance on Wall Street is likely to spur buying interest in the local market.
"IJM Corporation Bhd's acquisition of a data centre project could bolster sentiment in the construction, property, building materials and utilities sectors.
"Banking stocks may continue their upward trajectory on the back of stronger earnings, while the appreciation of the ringgit is expected to benefit consumer and shipping stocks," the firm said in a note today.
Among the heavyweights, Maybank added 2.0 sen to RM10.62, Public Bank advanced 12.0 sen to RM4.66, Tenaga Nasional gained 10.0 sen to RM14.00, and IHH Healthcare climbed 5.0 sen to RM6.32.
Conversely, YTL Corporation and YTL Power declined 27 sen each to RM3.20 and RM3.93, respectively, while CIMB Group eased 17 sen to RM7.80, collectively dragging the key index down by 11.97 points.
In active counters, Top Glove edged up half-a-sen to 99.5 sen, and Velocity Capital was flat at 6.5 sen.
Meanwhile, My E.G. Services dropped 2.0 sen to 91 sen, Cape EMS fell 2.5 sen to 39.5 sen and Pestech International shed 1.5 sen to 19.5 sen.
On the index board, the FBM Emas Index declined 22.30 points to 12,457.53, the FBM 70 Index slipped 8.61 points to 17,948.60, the FBM Emas Shariah Index fell 9.03 points to 12,405.44, the FBMT 100 Index dropped 17.35 points to 12,111.02, and the FBM ACE Index decreased 43.67 points to 5,357.48.
Sector-wise, the Financial Services Index rose 53.74 points to 19,161.28, while the Plantation Index added 4.35 points to 7,158.93.
Meanwhile, the Industrial Products and Services Index edged down 0.39 of-a-point to 183.52, while the Energy Index decreased 10.38 points to 939.07.
-- BERNAMA
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