Bursa Malaysia slips at midday as profit-taking continues
Declining counters outnumbered gainers 764 to 236, with turnover reaching RM1.32 billion.
Bursa Malaysia’s benchmark fell 0.34 per cent by the midday break on Oct 15 as profit-taking continued following a four-day high. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,622.12, down 5.60 points against Wednesday’s closing level of 1,627.72.
The index began trading at 1,625.10, a decline of 2.62 points, before ranging from 1,617.14 to 1,625.61. Across the market, 764 counters declined and 236 advanced. Another 444 were unchanged, while 1,399 were untraded and nine suspended. Trading volume reached 1.83 billion units, valued at RM1.32 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said stronger-than-expected September inflation figures had weighed on Wall Street overnight and complicated the US Federal Reserve’s position. He also pointed to selling in artificial intelligence-related shares amid concerns about excessive leverage at some companies.
Thong expected bargain hunting to continue, but said profit-taking could constrain gains after the benchmark’s 20 points advance over the preceding three days.
Among heavyweight stocks, Maybank reached RM10.04 after gaining six sen, while IHH Healthcare finished the morning at RM8.05, up four sen. Tenaga Nasional rose two sen, reaching RM13.00.
Malaysian Pacific Industries recorded the largest decline among the leading losers, dropping RM1.82 and ending at RM40.18. UMS Integration lost 77 sen, reaching RM7.56, while UWC Bhd retreated 51 sen, leaving it at RM7.22.
Other indices also weakened. The FBM Mid 70 Index ended the morning at 17,228.25 after losing 216.63 points, while the FBM ACE Index registered 5,448.44, a fall of 106.81 points.
