Bursa Malaysia remains in the red mid-afternoon

Bursa Malaysia (Bernama pic)

KUALA LUMPUR: Share prices remained in the red on Bursa Malaysia mid-afternoon on broad selling activity and in line with the sell down in regional markets and weaker overnight Wall Street performance.

At 3.05 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,705.51, down sharply by 29.67 points, from Wednesday’s close of 1,735.18. The index opened 35.42 points weaker at 1,699.76.

On the broader market, losers hammered gainers 876 to 157 while 259 counters were unchanged, 580 untraded and 17 others were suspended.

Turnover stood at 2.12 billion shares worth RM2.02 billion.

The weak sentiment in the market was attributable to warnings issued by the International Monetary Fund on investor complacency and potential “tremors” throughout the global economy.

On the commodity market, Brent crude eased 1.30 per cent to US$82.01 per barrel and the ringgit stood at 4.1570/1600 against the US dollar versus Wednesday’s 4.1515/1545.

Among Bursa Malaysia’s heavyweights, Axiata increased 16 sen to RM4.01, IOI Corp was flat at RM4.52, Maybank eased 27 sen to RM9.24, Public Bank fell eight sen to RM24.90, TNB contracted 52 sen to RM14.16, Petronas Chemicals weakened 11 sen to RM9.25 and CIMB éased 15 sen to RM5.69.

For actives, Sapura Energy was flat at 36 sen, Hibiscus Petroleum was five sen easier at RM1.20, MYEG shed six sen to RM1.46 and Velesto Energy shed one sen to 26 sen.

Gamuda remained in the spotlight, jumping 25 sen to RM2.32 on potential further discussions and cooperation with the Ministry of Finance on reaching an agreeable cost reduction for the MRT 2 underground contract.

The FBM Emas Index trimmed 182.34 points to 11,833.78, the FBMT 100 Index gave up 173.01 points to 11,661.81 and the FBM Emas Shariah Index erased 165.60 points to 11,858.3.

The FBM Ace Index was 143.38 points easier at 4,884.08 while the FBM70 weakened 80.83 points to 13,781.44.

Sector-wise, the Plantation Index decreased 66.91 points to 7,382.36, the Industrial Products and Services Index fell 2.69 points to 170.58 and the Financial Services wiped out 315.08 points to 17,172.58.