Bursa Malaysia ends morning session mixed

Bursa Malaysia ends morning session mixed
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KUALA LUMPUR (May 10): Bursa Malaysia ended the morning trading session mixed, driven by bargain-hunting activities amid cautious sentiment and weaker regional market performance, a dealer said.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.08 points to 1,550.26 from Monday’s close of 1,549.18.

The barometer index, which opened 2.37 points higher at 1,551.55, moved between 1,548.73 and 1,559.04 throughout the session.

On the broader market, losers trumped gainers 676 to 218, while 384 counters were unchanged, 965 untraded and 14 others suspended.

Total turnover stood at 1.68 billion units worth RM1.05 billion.

Malacca Securities Sdn Bhd said investors will be monitoring Bank Negara Malaysia’s (BNM) interest rate decision and statements on the economic growth outlook scheduled on Wednesday.

“Investors may remain cautious over the near term and look out for slightly defensive sectors such as REITs and utilities amid the uncertain market environment.

“Besides, banking counters could be traded actively ahead of the release of BNM’s interest rate decision,” it said.

Among the heavyweights, Public Bank Bhd gained eight sen to RM4.64, Malayan Banking Bhd eased one sen to RM8.99, Axiata Group Bhd added six sen to RM3.42, Digi.Com Bhd picked up nine sen to RM3.55 and Telekom Malaysia Bhd rose 12 sen to RM4.94.

Of the actives, Serba Dinamik Holdings Bhd fell four sen to seven sen, Ta Win Holdings Bhd and Avillion Bhd increased half-a-sen to 13.5 sen and 9.5 sen respectively, while Widad Group Bhd stayed flat at 36 sen.

On the index board, FBM Emas Index lost 18.41 points to 11,065.2, FBMT 100 Index slipped 2.81 points to 10,741.49, FBM ACE shed 34.14 points to 5,348.87, FBM 70 dipped 45.44 points to 13,179.11 and FBM Emas Shariah Index dropped 47.19 points to 11,480.78.

Sector-wise, the Financial Services Index rose 27.3 points to 16,635.34, the Industrial Products and Services Index was 2.72 points lower at 197.47 and the Plantation Index slipped 171.52 points to 8,079.91.