Bursa Malaysia remains in red at mid-day


The local stock market remained in negative territory at mid-day today, falling below 1,860-point level.

At 11.02am, Bursa Malaysia KLCI was 0.3% or 6.20 points lower at 1,857.83 from 1,864.03 on yesterday’s close.

According to Bloomberg data, the easing on the local bourse ended a 4-day gain on the key index.

The FBM KLCI opened 1.54 points weaker at 1,862.49 this morning.

A total of 20 of 30 stocks in the key index fell, while four rose.

The index is 1.2% below its 52-week high of 1,871.46 reached on Feb 2, 2018 and 8.7% above its 52-week low of 1,708.48 on on Dec 5, 2017.

Market breadth was negative, as losers beat gainers 585 to 219, while 361 counters remained unchanged, and 719 others untraded.

Turnover stood at 1.285 billion shares worth RM861.017 million.

Among heavyweights, Public Bank Bhd and CIMB Group Holdings BHd unchanged at RM23.00 and RM7.25, respectively, Tenaga Nasional Bhd improved four sen to RM15.66, while Maybank eased two sen to RM10.42, Petronas Chemicals decreased five sen to RM8.10 and IHH Healthcare declined one sen to RM6.08.

Of the actively-traded stocks, Cuscapi Bhd was two sen lower at 42 sen, Hiap Teck Venture Bhd eased one sen to 43.5 sen, while PDZ Holdings Bhd was flat at seven sen and Dialog rose nine sen to RM2.75.

Decliners include, Nestle Malaysia Bhd which slumped 5.7% or RM8.90 to RM148.50 while Ajinamoto Malaysia Bhd lost60 sen to RM23.70.

The Malaysian ringgit was unchanged at 3.8963 against the U.S. dollar.

Credit default swaps widened 0.6 basis points to 62.05 and benchmark 10-year bond yields fell 0.7 basis points to 3.94%.