Bursa Malaysia mixed at midday

Bursa Malaysia mixed at midday
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KUALA LUMPUR (May 12): Bursa Malaysia ended the morning trading session mixed on Thursday (May 12) as investors remained cautious over heightened volatility in the performance of regional markets, a dealer said.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.12 points to 1,557.05 from Wednesday’s close of 1,555.93.

The barometer index, which opened 1.01 points higher at 1,556.94, moved between 1,552.23 and 1,559.71 throughout the session.

On the broader market, however, losers edged past gainers 573 to 275, while 355 counters were unchanged, 1,039 untraded and 19 others suspended.

Total turnover stood at 1.81 billion units worth RM1.01 billion.

In a note, Malacca Securities Sdn Bhd said investors should brace for heightened volatility across global markets as Wall Street tumbled overnight in anticipation of a faster pace of interest rate hike and potential further tightening in monetary policies.

“Nevertheless, recovery-themed and commodities related sectors may be favourable ahead of the quarterly reporting season. Besides, the energy stocks may gain traction as the crude oil price swung higher," it said.

Bursa heavyweights, Malayan Banking Bhd added four sen to RM9.14, Public Bank Bhd was one sen up at RM4.66, Petronas Chemicals Group Bhd added nine sen to RM9.98, and IHH Healthcare Bhd improved four sen to RM6.46.

Of the actives, Serba Dinamik Holdings Bhd recovered three sen to nine sen, MNC Wireless Bhd gained one sen to 3.5 sen, Techna-X Bhd rose half-a-sen to 12 sen, Widad Group Bhd stayed flat at 36 sen, while CSH Alliance Bhd fell half-a-sen to 12 sen.

On the index board, FBM Emas Index declined 23.22 points to 11,089.12, FBMT 100 Index erased 19.75 points to 10,766.18, FBM Emas Shariah Index slid 34.8 points to 11,480.32, FBM ACE shed 32.82 points to 5,326.32 and FBM 70 dipped 136.69 points to 13,117.88.

Sector-wise, the Financial Services Index improved 22.9 points to 16,789.02, the Industrial Products and Services Index was 0.88 of-a-point lower at 196.5 and the Plantation Index inched up 19.65 points to 8,253.67.