Bursa Malaysia ends morning session lower on profit taking
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Loading... - Liam Bakker
- 09 May 2022
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Bursa Malaysia ended the morning trading session lower on Monday due to persistent profit-taking in selected heavyweights, led by industrial products and services as well as plantation counters, a dealer said.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 11.68 points to 1,552.66 from Friday’s close of 1,564.34.
The barometer index, which opened 0.54 of-a-point lower at 1,563.80, moved between 1,552.11 and 1,563.80 throughout the session.
On the broader market, losers trumped gainers 697 to 170, while 341 counters were unchanged, 1,037 untraded and 17 others suspended.
Total turnover stood at 1.90 billion units worth RM970.67 million.
In a note today, Malacca Securities Sdn Bhd said the FBM KLCI continued to trend lower in tandem with regional peers on the back of bearish global sentiment, following a sharp decline on Wall Street and the net outflow of foreign funds.
Nevertheless, bargain hunting activities might be seen ahead of the earnings season, especially in the recovery-themed sectors as well as real estate investment trusts (REITs).
“We reckon the oil and gas and recovery-themed sectors such as consumer and REITs will continue to be supported by buying interest.
“Besides, the transportation sector may gain traction with the Baltic Exchange Dry Index at its highest since March 2022,” it said.
Among the Bursa heavyweights, Press Metal Aluminium shed 20 sen to RM5.18, IOI Corporation slipped 16 sen to RM4.40, Sime Darby Plantation lost 13 sen to RM4.96, and Axiata inched down eight sen to RM3.35.
Of the actives, Serba Dinamik shrank 22 sen to 13 sen, Euro Holdings weakened 2.5 sen to 20 sen, while Techna-X and Widad Group stayed flat at 12 sen and 36 sen, respectively.
Across the index board, FBM ACE shed 71.71 points to 5,425.55, FBM 70 dipped 108.65 points to 13,277.42, FBM Emas Index narrowed 91.30 points to 11,114.26, FBMT 100 Index shrank 82.72 points to 10,772.79, and FBM Emas Shariah Index erased 124.06 points to 11,569.69. Read More...
