Bursa Malaysia ends morning session in the red

BURSA Malaysia ended the morning trading session in the red due to profit-taking across the board, in tandem with regional peers which took their cue from Wall Street’s lacklustre performance overnight, a dealer said.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 5.98 points to 1,459.89 from Tuesday’s close of 1,461.1.

The benchmark index opened 1.65 points lower at 1,459.45, subsequently moving between 1,451.58 and 1,459.89 throughout the session. 

On the broader market, losers outpaced gainers 497 to 219, while 374 counters were unchanged, 1,300 untraded and nine others suspended.

Turnover stood at 1.29 billion units worth RM694.01 million. 

ActivTrades trader Anderson Alves said Asian equities are trading in a defensive mode as traders await the minutes from the US Federal Reserve’s meeting where it is expected to raise rates by 75 basis points (bps) later today.

He noted that money markets are also pricing in a 20% chance of a 100bps hike after the spike in the US consumer price index data in August.

“There’s also some geopolitical tension concerning Russia and Ukraine, where the separatists are set to hold a referendum in some regions and traders are expecting an update from Russian President Vladimir Putin.

“A slight risk-off price action had hit the markets as there have been some hints that Putin is considering introducing martial law and full mobilisation of the Russian army,” he said.

Regionally, Japan’s Nikkei 225 fell 1.24% to 27,344.2, Hong Kong’s Hang Seng Index declined 1.51% to 18,496.95, Singapore’s Straits Times Index was flat at 3,266.87, South Korea’s Kospi slipped 0.9% to 2,346.54 and Shanghai’s SSE index slid 0.56% to 3,105.02.

Back home, Bursa heavyweights Malayan Banking Bhd added three sen to RM8.73 and Public Bank Bhd gained six sen to RM4.51, while Petronas Chemicals Group Bhd fell 10 sen to RM8.60, CIMB Group Holdings Bhd eased two sen to RM5.46 and IHH Healthcare Bhd slid three sen to RM6.11.

Of the actives, Top Glove Corp Bhd trimmed five sen to 65.5 sen, Borneo Oil Bhd slid half-a-sen to 2.5 sen, Vinvest Capital Holdings Bhd warrant edged up half-a-sen to 4.5 sen while China Automobile Parts Holdings Ltd and SNS Network Technology Bhd were flat at half-a-sen and 27 sen, respectively.

On the index board, the FBM Emas Index went down 46.3 points to 10,377.6, the FBM T100 Index lost 45.78 points to 10,120.97, the FBM Emas Shariah Index dropped 100.09 points to 10,421.34, the FBM 70 decreased 73.69 points to 12,575.46 and the FBM ACE gave up 63.02 points to 4,744.28.

Sector-wise, the Energy Index was 4.61 points easier at 715.58, the Plantation Index contracted 67.54 points to 6,840 and the Industrial Products and Services Index slid 2.23 points to 176.76, while the Financial Services Index rose 44.89 points to 16,498.58. — Bernama