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KUALA LUMPUR, March 25 ― Bursa Malaysia ended the morning session in the red, taking its cue from weak global equities, concerns over the extended economic lockdowns in Europe and the potential for higher taxes in the United States.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.27 points to 1,600.13 from 1,602.40 points at the close yesterday.
The index opened 5.46 points better at 1,607.86 and moved between 1,596.56 and 1,608.05 throughout the morning trading session.
On the broader market, losers led gainers at 512 versus 384, while 460 counters were unchanged, 876 untraded and 22 others suspended.
Total volume stood at 3.40 billion shares worth RM1.62 billion.
Public Bank Investment Bank Bhd said the local bourse is taking its cue from global equities which are on a downtrend, as well as the strengthening dollar which hovered near a four-month high yesterday.
“European shares closed in near two-week lows, while oil prices surged after its steep losses on Tuesday after one of the world’s largest container ships ran aground in the Suez Canal,” it said in a note.
However, regional peers Japan's Nikkei 225 rose 1.05 per cent to 28,704.46, Hong Kong's Hang Seng went up 0.04 per cent to 27,928.26, Singapore's Straits Times advanced 0.34 per cent to 3,143.83, while South Korea's Kospi gained 0.21 per cent to 3,002.69.
Local heavyweights CIMB reduced five sen to RM4.45, PPB was 32 sen lower at RM18.46, IOICorp was six sen easier at RM4.24 and Nestle shed RM1.20 to RM135.80.
As for the active counters, BJCorp added 3.5 sen to 32.5 sen, Saudee erased 9.5 sen to 50.5 sen, DNex lost one sen to 97 sen and its warrant was flat at 34 sen, while Kanger, MMAG and YongTai all lost half-a-sen to eight sen, 38.5 sen and 26.5 sen, respectively.
On the index board, the FBM Emas Index lost 5.54 points to 11,748.25, the FBMT 100 reduced 8.32 points to 11,421.12, the FBM Emas Shariah fell 6.76 points to 13,056.58 and the FBM ACE declined 20.66 points to 10,418.20.
However, the FBM 70 rose 19.06 points to 15,466.43.
Sector-wise, the Financial Services Index gained 7.04 points to 15,273.81, the Industrial Products and Services Index increased 0.61 of-a-point to 191.73, while the Plantation Index fell 39.10 points to 7,123.95. ― Bernama
Source: Malay Mail
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