Bursa Malaysia ends morning session broadly lower

BURSA Malaysia ended the morning trading session broadly lower, in line with regional peers which took their cue from Wall Street’s losses on Friday amidst persistent concerns over another rate hike by the US Federal Reserve (Fed).

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 16.2 points to 1,451.11 from Thursday’s close of 1,467.31.

The benchmark index opened 7.8 points lower at 1,459.51, subsequently moving between 1,446.04 and 1,460.91 throughout the session.

Bursa Malaysia and its subsidiaries were closed on Friday, Sept 16, 2022, in conjunction with Malaysia Day.

On the broader market, losers trounced gainers 670 to 173, while 293 counters were unchanged, 1,237 untraded and 17 others suspended.

Turnover stood at 1.31 billion units worth RM932.55 million.

A dealer said the local bourse stayed in the red since the opening bell today, with selling pressure in selected heavyweight stocks weighing on the barometer index.

He said most major bourses in Asia extended their losses from last week, ahead of the Fed’s meeting on Tuesday which is widely expected to result in a 75 basis points interest rate hike, prompting investors to flee from risk assets.

Regionally, Hong Kong’s Hang Seng Index slipped 0.96% to 18,580.87, Singapore’s Straits Times Index slid 0.16% to 3,263.19, South Korea’s Kospi dropped 1.19% to 2,354.37 and Shanghai’s SSE index eased by 0.16% to 3,121.46.

Back home, Bursa heavyweights Malayan Banking Bhd gained three sen to RM8.61 and CIMB Group Holdings Bhd added two sen to RM5.39, while Public Bank Bhd shed four sen to RM4.43, Petronas Chemicals Group Bhd slid three sen to RM8.59 and IHH Healthcare Bhd fell 15 sen to RM6.17.

Of the actives, Top Glove Corp Bhd slipped 5.5 sen to 71 sen and SNS Network Technology Bhd eased half-a-sen to 29.5 sen, while Metronic Global Bhd and Velesto Energy Bhd edged up half-a-sen each to 2.5 sen and 12 sen, respectively, and XOX Bhd was flat at 1.5 sen.

On the index board, the FBM Emas Index gave up 111.28 points to 10,363.3, the FBM T100 Index fell 110.26 points to 10,104.39, the FBM Emas Shariah Index decreased 110.59 points to 10,468.23, the FBM 70 dropped 127.37 points to 12,600.21 and the FBM ACE was 94.33 points lower at 4,739.42.

Sector-wise, the Plantation Index added 13.83 points to 6,871.95, while the Energy Index was 8.47 points easier at 729.15, the Financial Services Index tumbled 163.79 points to 16,327.69 and the Industrial Products and Services Index shed 2.56 points to 178.91. — Bernama / pic MUHD AMIN NAHARUL