By NG MIN SHEN / Pic By TMR

Bursa Malaysia’s main index declined during the morning session today, dragged by banking counters and global political uncertainties.

At the midday break, the index slipped 6.66 points or 0.38% to 1,769.14 compared to yesterday’s close of 1,775.8.

The benchmark index hovered between 1,776.1 and 1,767.05 throughout the morning session.

Losers thumped gainers 535 to 236, while 325 other counters were untraded.

Turnover stood at 1.42 billion shares valued at RM1.07 billion.

Counters that gained during the session included Press Metal Aluminium Holdings Bhd, Genting Malaysia Bhd, Sime Darby bhd, Petronas Gas Bhd, IHH Healthcare Bhd, IOI Corp Bhd, Maxis Bhd and Public Bank Bhd.

Main losers are YTL Corp Bhd, Tenaga Nasional Bhd, Astro Malaysia Holdings Bhd, Hong Leong Financial Group Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, AMMB Holdings Bhd, Telekom Malaysia Bhd, Petronas Chemicals Group Bhd, DiGi.Com Bhd and PPB Group Bhd.

The market is taking a cautious stand as the US Federal Reserve is expected to announce another interest rate hike on Wednesday, pushing the greenback higher and zapping fund from emerging markets back to the US.