An analyst said investors were keeping a lookout for noteworthy leads for market players to follow and were wary of the state of the country’s economy, corporate earnings growth, as well as rising geopolitical concerns. — Bernama pic
KUALA LUMPUR, Sept 24 — Bursa Malaysia slipped below the 1,590-level benchmark at mid-morning as the market remained muted in the morning session.
At 11.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 3.27 points to 1,589.66 from yesterday’s close of 1,592.93.
The index opened 0.57 of-a-point higher at 1,593.50.
Market breadth was negative as losers surpassed winners 331 to 235 with 354 counters unchanged, 1,065 untraded and 23 others suspended.
Turnover stood at 822.94 million shares worth RM461.49 million.
An analyst said investors were keeping a lookout for noteworthy leads for market players to follow and were wary of the state of the country’s economy, corporate earnings growth, as well as rising geopolitical concerns.
“A strong fresh catalyst is needed to push up the market, and without it, we’ll see that the support level might test the 1,580 level in no time,” she said.
Heavyweight Maybank slipped seven sen to RM8.65, Petronas Chemical fell 11 sen to RM7.43, dragging the CI index by 2.26 points.
Other blue-chip stocks, Tenaga Nasional and IHH both shed four sen to RM13.60 and RM5.65, respectively.
The FBM Emas Index declined 15.26 points to 11,237.16, the FBMT 100 Index dropped 15.37 points to 11,070.46 and the FBM Emas Shariah Index shed 13.72 points to 11,760.08.
The FBM 70 appreciated 11.01 points to 13,943.57 and the FBM Ace weakened 18.39 points to 4,553.89.
Sector-wise, the Financial Services Index dipped 24.37 points to 15,429.04, the Plantation Index was weaker by 20.78 points at 6,701.67 and the Industrial Products & Services Index was 0.55 points lower at 152.70. — Bernama