Muristek
KUALA LUMPUR, May 24 — Bursa Malaysia turned slightly lower at mid-morning as mild selling in selected heavyweights offset earlier gains, as well as in line with the weaker sentiment in the regional market, dealers said.
At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.36 of-a-point to 1,542.17 from Monday’s close of 1,542.53.
The benchmark index opened 5.31 points higher at 1,547.84.
On the broader market, losers outpaced gainers 457 to 242, while 366 counters were unchanged, 1,234 untraded, and 11 others suspended.
Turnover stood at 1.62 billion units worth RM628.06 million.
ActivTrades trader Anderson Alves said Asian equities are on the back foot amidst recession fears.
“On the geopolitical front, it is worth noting that traders are paying attention to remarks from Russian Foreign Minister Lavrov as he pointed towards the expedition of deeper Sino-Russian ties.
“Looking ahead, investors will be waiting for the Federal Open Market Committee (FOMC) minutes for signs of committee members’ thoughts on how far the United States’ rate hikes will need to go as well as their views on the neutral rate,” he said in a note today.
Back home, heavyweights Maybank slipped 1.0 sen to RM8.97 and IHH Healthcare fell 5.0 sen to RM6.50, while Public Bank, Petronas Chemicals and TNB added 1.0 sen each to RM4.55, RM10 and 9.21, respectively.
Of the actives, Green Packet reduced 1.5 sen to 8.0 sen, Sapura Energy eased half-a-sen to 8.0 sen, KNM shed 3.0 sen to 16.5 sen, while Cnergenz was flat at 58 sen.
On the index board, FBM ACE declined 0.44 of-a-point to 5,275.64, FBM Emas Shariah Index decreased 28.25 points to 11,436.32, FBM Emas Index was down 16.90 points to 11,025.68, FBMT 100 Index fell 10.38 points to 10,694.58, and FBM 70 contracted 45.02 points to 13,158.72.
Sector-wise, the Industrial Products and Services Index was 0.28 of-a-point lower at 199.30, while the Financial Services Index added 5.97 points to 16,560.92, and the Plantation Index rose 2.16 points to 8,043.27. — Bernama