Bursa ends morning session lower

Bursa ends morning session lower
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KUALA LUMPUR (Sept 26): Bursa Malaysia ended the morning trading session lower on Monday (Sept 26), in tandem with the downtrend on most regional bourses, taking its cue from Wall Street’s downward movement last Friday. 

At 12.30pm, the benchmark FBM KLCI had slipped 5.30 points or 0.37% to 1,419.68, from last Friday’s close at 1,424.98. 

The benchmark index opened 1.15 points easier at 1,423.83, subsequently moving to a low of 1,416.97 during the morning session. 

On the broader market, decliners trounced gainers 689 to 146, while 293 counters were unchanged, 1,269 untraded, and nine others suspended.

Turnover stood at 1.08 billion units worth RM667.14 million.

Hong Leong Investment Bank reiterated that an extended downward consolidation may prevail for the KLCI towards the 1,400-1,408 support level this week, taking its cue from the persistent rout on Wall Street.

“Nevertheless, the KLCI is getting oversold after tumbling 12% from a 52-week high of 1,620, with the key support level situated near the 1,400-1,408 zone,” it said in a research note on Monday. 

Among the heavyweights, IHH Healthcare Bhd jumped 11 sen to RM5.91 and Press Metal Aluminium Holdings Bhd added one sen to RM4.02, while Petronas Chemicals Group Bhd was flat at RM8.35 and Malayan Banking Bhd (Maybank) declined four sen to RM8.65. Public Bank Bhd stood at RM4.31 and Tenaga Nasional Bhd (TNB) was at RM8.67 after easing three sen each. 

Of the actives, Aimflex Bhd rose one sen to 16 sen, MQ Technology Bhd was flat at 3.5 sen, Velesto Energy Bhd was one sen easier at 12 sen, Top Glove Corp Bhd inched down half a sen to 64.5 sen and Dagang NeXchange Bhd fell three sen to 79 sen. 

On the index board, the FBM Emas Index decreased 56.67 points to 10,140.71, the FBM 70 lost 109.18 points to 12,322.61, the FBMT 100 Index declined 48.96 points to 9,884.66, the FBM Emas Shariah Index fell 46.94 points to 10,191.26, and the FBM ACE gave up 81.99 points to 4,684.64. 

Sector-wise, the Energy Index was 23.97 points easier at 688.67, the Plantation Index shrank 65.90 points to 6,698.81, the Financial Services Index slipped 91.32 points to 16,177.25, and the Industrial Products and Services Index trimmed 1.19 points to 171.01.