At 12.30pm, the FBM KLCI eased 3.66 points to 1,539.28 from yesterday's close of 1,542.94. — Reuters pic
KUALA LUMPUR, Feb 13 ― The FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.23 per cent lower at mid-day, as market sentiment was affected by the country’s weaker-than-expected fourth-quarter 2019 gross domestic product (GDP) and expectations of another round of interest rate cut.
At 12.30pm, the FBM KLCI eased 3.66 points to 1,539.28 from yesterday's close of 1,542.94.
After opening 1.81 points higher at 1,544.75 this morning, the local index moved between 1,538.82 and 1,545.92 throughout the morning session.
On the broader market, gainers amounted to 347 and losers at 345, with 360 counters unchanged, 926 untraded and 33 others suspended.
Turnover amounted to 1.41 billion shares worth RM973.46 million.
In a note, Rakuten Trade Sdn Bhd said the FBM KLCI continued to experience a downtrend as investors were opting for the 10-year Malaysian Government Securities (MGS) at the expense of equities.
“Currently, the 10-year MGS yield has dipped to 2.92 per cent, which is the lowest since 2004. Nonetheless, we expect there to be some nibbling on equities today with the FBM KLCI’s immediate resistance of 1,550 to be tested again,” it said.
Wall Street, however, closed higher yesterday spurred by easing concerns over the impact of Covid-19, which might provide a boost to sentiments regionally going forward.
The Dow Jones Industrial Average rose 275.08 points, or 0.9 per cent, to end at 29,551.42, while the S&P 500 added 21.70 points or 0.7 per cent, to finish at 3,379.45. The Nasdaq Composite Index ended at 9,725.96, a gain of 87.02 points, or 0.9 per cent.
Among heavyweights on Bursa Malaysia, Maybank added one sen to RM8.47, Tenaga decreased two sen to RM12.62, Public Bank went up four sen to RM17.82 and Petronas Chemicals declined three sen to RM6.49.
Of the actives, DGB Asia rose one sen to nine sen, Securemetric eased half-a-sen to 15 sen and MTouche inched up half-a-sen to 18.5 sen.
On the index board, the FBM Emas Index decreased 4.82 points to 11,006.02, the FBM Emas Shariah Index fell 2.30 points to 11,788.89 and the FBMT 100 Index reduced 7.27 points to 10,799.52.
The FBM 70 was 65.78 points higher at 13,931.75 and the FBM Ace lost 18.41 points to 5,611.05.
Sector-wise, the Industrial Products and Services Index inched down 0.08 point to 146.08, the Financial Services Index was 6.32 points lower at 14,609.31 and the Plantation Index shed 29.81 points to 7,283.20. ― Bernama