KUALA LUMPUR • The benchmark index on Bursa Malaysia ended the morning trading session in a bearish mood, with investors reassessing risks after global markets closed in the red last week.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 11.5 points to 1,492.94, compared to last Friday’s close of 1,504.44.

The benchmark index opened 2.83 points easier at 1,501.61, subsequently moving between 1,489.25 and 1,502.07 throughout the session.

On the broader market, losers surpassed gainers 547 to 207, while 356 counters were unchanged, 1,218 untraded and 17 others suspended.

Turnover stood at 1.05 billion units worth RM713.29 million.

With global investors reassessing the risks of interest rate hikes by the US Federal Reserve, growth stocks might see some selling pressure, especially after the FBM KLCI drifted lower last Friday in tandem with most of the regional markets, said Malacca Securities Sdn Bhd.

“Nevertheless, we believe that traders on the local bourse may remain cautiously optimistic amid the earnings season while monitoring Malaysia’s inflation rate data that will be released this Friday,” it said in a note today.

The brokerage noted that the technology sector may see a pullback following the slump in Nasdaq overnight, adding that investors may turn their focus to stocks with solid earnings prospects such as selected consumer, banking and Real Estate Investment Trust.

Meanwhile, Bursa heavyweights Malayan Banking Bhd erased four sen to RM8.88, Public Bank Bhd was flat at RM4.61, Petronas Chemicals Group Bhd lost three sen to RM8.71 and CIMB Group Holdings Bhd declined six sen to RM5.36.

Of the actives, Cnergenz Bhd added seven sen at 95.5 sen, MyEG Services Bhd was half-a-sen better at 79 sen and Agmo Holdings Bhd gained four sen at 85 sen, while Metronic Global Bhd was unchanged at 5.5 sen. 

On the index board, the FBM Emas Index was 78.54 points easier at 10,601.35, the FBM T100 Index shed 76.89 points to 10,346.36, the FBM Emas Shariah Index fell 98.26 points to 10,717.34 and the FBM ACE reduced 80.17 points to 4,906.51, while the FBM 70 jumped 83.16 points to 12,704.28.

Sector-wise, the Financial Services Index slipped 71.49 points to 16,681.49, the Plantation Index declined 68.84 points to 7,178.40, the Energy Index went down 3.44 points to 667.90 and the Industrial Products and Services Index reduced 1.51 points to 182.23. — Bernama/graphic by TMR