KLCI pares losses but stays in negative zone at mid-afternoon

The Malaysian stock market was hit with external shocks which came after the US presidential election November 10, 2016. — Picture by Hari Anggara

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KUALA LUMPUR, May 31 — Bursa Malaysia has recouped some of its earlier losses but stayed in the negative territory following mild buying in selected heavyweights.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 10.80 points, or 0.68 per cent to 1,583.64 from 1,594.44 at Friday’s close.

In the earlier session, only healthcare-linked counter, Top Glove traded higher, but as at 3.12 pm, Press Metal, Axiata and PPB group have improved.

Top Glove rose nine sen to RM5.18, Press Metal added two sen to RM5.22, Axiata gained one sen to RM3.71, and PPB Group was eight sen firmer at RM18.70.

Meanwhile, among the indices, the Healthcare Index was up 11.17 points to 3,145.56, Technology edged up 0.02 of-a-point to 79.00, while Transportation was 1.86 points better at 820.42.

At the opening bell, the benchmark index was lower by 23.4 points at 1,571.04.

Market breadth remained negative with losers trouncing gainers 890 to 201, while 305 counters were unchanged, 786 untraded, and 58 others suspended.

Total volume stood at 4.82 billion units worth RM2.45 billion.

Among the 30 FBM KLCI counters, Maybank fell four sen to RM8.16, Public Bank declined six sen to RM4.21, PChem lost 13 sen to RM8.01, and Tenaga was two sen lower at RM9.97.

Of the actives, HB Global rose three sen to 32 sen, Kumpulan Jetson added two sen to 60.5 sen, and Managepay inched up half-a-sen to 23.5 sen.

Top losers included Serba Dinamik which erased 48 sen to RM1.13, Hengyuan Refining lost 41 sen to RM5.27, and Hong Leong Bank gave up 38 sen to RM18.22.

On the index board, the FBM Emas Index trimmed 86.57 points to 11,491.93 and the FBMT 100 Index skidded 78.72 points to 11,197.8.

The FBM Emas Shariah Index dwindled 72.03 points to 12,775.01, the FBM 70 weakened 112.91 points to 14,756.74, and the FBM ACE gave up 159.44 points to 7,84.44.

Sector-wise, the Financial Services Index lost 180.26 points to 14,986.87, the Plantation Index slipped 26.17 points to 6,882.29, and the Industrial Products and Services Index inched down 2.23 points to 190.86. — Bernama

Source: Malay Mail