KL shares eases at mid-day on limited heavyweight selling

Some selected selling of heavyweights put a drag on Bursa Malaysia at mid-day. — Reuters pic
Some selected selling of heavyweights put a drag on Bursa at mid-day. — Reuters pic

, April 4 — Shares on Bursa Malaysia were slightly lower at mid-day on selling in selected heavyweights led by Genting Bhd, Genting Malaysia and .

At lunch break, the key FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.79 points to 1,641.42 from yesterday’s close of 1,643.21 after opening 0.8 points better at 1,644.01.

The index fluctuated between 1,637.57 and 1,645.54 throughout the morning session.

On the scoreboard, decliners were slightly higher compared with gainers 350 to 333, while 387 counters were unchanged, 786 untraded and 33 others suspended.

Turnover amounted to 1.67 billion shares worth RM907.19 million.

Genting-related companies such as Genting (-15 sen) and Genting Malaysia (-0.5 sen) were lower due to some profit-taking activities by investors after the latter announced its decision to acquire the Equanimity superyacht.

“The proposed acquisition is expected to boost the group’s competitive edge for its premium. Other large-cap losers include Public Bank (-14 sen),” Securities Sdn Bhd said in its note today.

Of the other heavyweights, Maybank rose two sen to RM9.26, PetChem added three sen to RM9.11, IHH was flat at RM5.60 and CIMB was two sen weaker at RM5.10.

Among actives, KNM and Pegasus inched up half-a-sen each to 15.5 sen and 2.5 sen, Sino Hua-An was flat at 26.5 sen and Bumi Armada slipped half-a-sen to 19 sen.

The FBM Emas Index shed 3.39 points to 11,581.65, the FBMT100 Index depreciated 5.18 points to 11,421.51 but the FBM Emas Shariah Index was 15.21 points higher at 11,757.51.

The FBM Ace Index narrowed 13.90 points to 4,820.44, while the FBM70 edged up 23.04 points to 14,349.99.

Sector-wise, the Financial Services Index erased 4.03 points to 16,894.83, the Plantation Index was 7.73 points easier at 7,210.37 and the Industrial Products and Services Index added 0.23 of a point to 169.36.

Separately, Bursa Malaysia has approved Scomi Group Bhd’s request for shares suspension effective from 10.57 am until 5pm today. — Bernama

Source: The Malay Mail Online

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