On the broader market, losers outpaced gainers 440 to 255, with 357 counters unchanged, 924 untraded and 16 others suspended. — Bernama pic
KUALA LUMPUR, Nov 6 — Bursa Malaysia remained lower at mid-day today on continued profit-taking in most index-linked counters, while also tracking the movement of most Asian peers, dealers said.
At 12.30pm, the benchmark index moved 0.39 per cent or 6.3 points lower to 1,600.40 against Tuesday’s close of 1,606.74.
The key index opened 2.69 points higher at 1,609.43. It moved between 1,597.18 and 1,609.64 throughout the morning session.
On the broader market, losers outpaced gainers 440 to 255, with 357 counters unchanged, 924 untraded and 16 others suspended.
Turnover amounted to 1.38 billion shares worth RM766.79 million.
AxiTrader chief Asia market strategist Stephen Innes said the technology index was, however, trading better on the back of a strong smartphone demand and better headlines on the trade talks between the US and China.
Meanwhile, the Organisation of the Petroleum Exporting Countries (Opec) expectation of weaker demand for oil over the next few years, dragged oil and gas stocks down with Petronas Chemicals easing 10 sen to RM7.60 and Petronas Gas declining 12 sen to RM16.50.
This expectation is reportedly due to the combination of a weakening economy, rising supply elsewhere, and pressure from climate activists.
For other heavyweights, Maybank shed five sen to RM8.61, Tenaga declined four sen to RM13.96, and Public Bank reduced eight sen to RM19.78.
MISC bagged one sen to RM8.20 after falling nine sen to RM8.19 at closing yesterday on news that it sold one block of 70 million shares at RM8.08 per share or RM565.6 million in total, which was below market value.
The share vendor, is however, unknown.
Of the actives, Velesto increased three sen to 39 sen, Sumatec added half-a-sen to one sen and Netx was flat at two sen.
The FBM Emas Index was 38.46 points lower at 11,335.27, the FBMT 100 Index dipped 38.27 points to 11,148.35 and the FBM 70 slipped 24.00 points to 14,054.47.
The FBM Emas Shariah Index contracted 39.09 points to 11,891.90 and FBM Ace lost 22.24 points to 4,975.56.
Sector-wise, the Financial Services Index fell 61.55 to 15,584.27, the Plantation Index slid 33.49 points to 6,854.40 and the Industrial Products & Services Index declined 0.47 of-a-point to 154.25. — Bernama
