Bursa Malaysia remains in the negative territory at mid morning

KUALA LUMPUR: Bursa Malaysia remained in the negative territory at mid morning, trading in cautious mode after the United States (US) stocks ended sharply lower on Wednesday, dealers said.

At 11.02 am, the FTSE Bursa Malaysia KLCI (FBM KLCI), shed 2.69 points to 1.443.85 from Wednesday’s closing of 1,446.54.

The index opened 3.28 points lower at 1,443.26.

On the broader market, decliners outpaced gainers 416 to 235, while 403 counters were unchanged, 1,297 untraded and 10 suspended.

Turnover stood at 1.34 billion units worth RM565.65 million.

ActivTrades trader Anderson Alves said Asian equity markets were cautious on Thursday as traders adjusted their expectations for a less-than-likely US Federal Reserve rate cut and mounting geopolitical uncertainties.

Amid this turbulence, he said Wall Street’s “fear barometer”, namely the Chicago Board Options Exchange’s Volatility Index approached the crucial 20 per cent mark, a significant threshold for equity markets.

Among the Bursa heavyweights, Public Bank shed four sen to RM4.13, Petronas Chemicals fell 18 sen to RM7.47, CIMB eased one sen to RM5.56, and Tenaga Nasional lost two sen to RM10, while Maybank added one sen to RM8.96.

Of the actives, Icon reduced two sen to 11 sen and MRCB eased half-a-sen to 44 sen, while Sealink added two sen to 25 sen, Parlo warrant gained three sen to 4.5 sen and Key Asic edged up half-a-sen to nine sen.

On the index board, the FBM Emas Index declined 25.56 points to 10,648.19, the FBMT 100 Index shed 25.34 points to 10,321.22, the FBM Emas Shariah Index slipped 25.65 points to 10,922.42, the FBM 70 Index fell 61.08 points to 14,018.07 and the FBM ACE Index lost 9.07 points to 5,062.76.

Sector-wise, the Industrial Products and Services Index inched down 1.81 points to 174.73, the Energy Index reduced 2.21 points to 876.48, and the Financial Services Index fell 27.83 points to 16,138.01, while the Plantation Index increased by 16.18 points to 6,944.56 – Bernama