Bursa Malaysia ends morning session lower

Bursa Malaysia ended the morning session lower today, weighed down by selling in selected blue chips and small cap counters despite a stronger regional market, a dealer said.
At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.69 points to 1,787.62 from last Friday’s close of 1,791.31.  
The key index, which opened 0.82 of-a-point higher at 1,792.13, moved between 1,787.25 and 1,793.39 throughout the session. 
On the broader market, decliners thumped advancers 581 to 215, while 301 counters were unchanged, 696 untraded and 30 others suspended. 
Turnover stood at 913.62 million shares worth RM682.83 million.
On regional markets, Singapore’s Straits Times index rose 0.35 per cent to 3,242.90, South Korea’s KOSPI increased 0.30 per cent to 2,368.90 and Hong Kong’s Hang Seng Index added 0.94 per cent to 25,868.02.
Inter-Pacific Securities Sdn Bhd Research Head Pong Teng Siew said the local market failed to take cue from the firmer regional stock markets, and selling activities seen in technology stocks, especially KESM and Globetronics.
KESM, which was the top loser, declined 32 sen to RM2.11, while Globetronics was down nine sen to RM1.49.
Teng said profit taking could also accelerate ahead of the long weekend break.
For the heavyweights, TNB and Public Bank declined four sen each to RM14.40 and RM20.36 respectively, with Maybank, Maxis and IHH Healthcare unchanged at RM9.63, RM5.88 and RM5.97.
Maxis announced it had received approval from Bursa Malaysia  to suspend trading from 9 am to 5 pm today, pending a material announcement.
Axiata rose three sen to RM5.02 and Digi added four sen to RM4.99.
Actively traded stocks included AT which inched up half-a-sen to 4.5 sen, and FGV which rose nine sen to RM1.85, while Netx was flat at six sen.
The FBM Emas Index was 34.05 points lower at 12,717.79, the FBMT100 Index fell 30.72 points to 12,361.74, while the FBM Emas Shariah Index depreciated 43.31 points to 12,935.80.
The FBM 70 lost 57.02 points to 15,082.75 and the FBM Ace went down 55.64 points to 6,286.76.
On a sectoral basis, the Finance Index dropped 51.57 points to 16,857.07, the Plantation Index fell 42.17 points to 7,974.80 and the Industrial Index shed 1.26 points to 3,281.61. 


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