KUALA LUMPUR, July 3 — Bursa Malaysia closed the morning session lower on continued selling in blue chips and selected heavyweights, a dealer said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.56 of-a-point to 1,763.11, after moving between 1,756.37 and 1,766.01 throughout the session.
The index opened 1.94 points easier at 1,761.73 from last Friday's close of 1,763.67.
Market breadth was negative as decliners led gainers 438 to 311, with 329 counters unchanged, 696 untraded and 22 others suspended.
Turnover stood at 887.38 million shares worth RM597.38 million.
Dealers said Asian bourses, including Bursa Malaysia, slipped in tracking the mixed sentiment on Wall Street.
A dealer said market participants were now shifting their focus to the Chinese bond and currency markets with the launch of a new programme allowing global investors to invest in the world’s third-largest market for fixed income via Hong Kong.
Meanwhile, Hong Leong Investment Bank (HLIB) Bhd in a note said the trading tone on Bursa Malaysia may turn negative following softer sentiment abroad.
“In the United States, we may expect a slowdown in trading activities on a shortened trading week.
“Also, investors may look out for key economic releases such as the US Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index, Federal Open Market Committee meeting minutes, crude oil inventories and jobs data throughout the week,” it added.
On the local front, the research house said shares are expected to see mild bargain hunting activities following profit taking activities in the final week of the quarter.
“However, we opine that investors may still deploy the sell-into-strength strategy with the lack of fresh catalysts to boost trading activities on a broad market environment,” it added.
Of the heavyweights, Maybank and Petronas Chemicals gained two sen each to RM9.65 and RM7.12 respectively.
TNB fell four sen to RM14.10, Public Bank and CIMB declined two sen each to RM20.30 and RM6.56, respectively, while Sime Darby was flat at RM9.50.
Among actives, Hiap Teck expanded 1.5 sen to 40 sen, Pasukhas added half-a-sen to 19.5 sen and Hibiscus Petroleum improved two sen to 43 sen.
Tiger Synergy was flat at 6.5 sen.
The FBM Emas Index fell 9.75 points to 12,589.19, the FBM Emas Shariah Index slipped 24.54 points to 12,797.61 and the FBMT100 Index plunged 11.72 points to 12,223.17.
The FBM Ace increased 37.90 points to 6,531.60, but the FBM 70 dropped 43.89 points to 15,029.94.
On a sectoral basis, the Finance Index rose 12.98 points to 16,779.16, the Industrial Index slid 20.92 points to 3,249.64 and the plantation Index rose 9.59 points to 7,922.79. — Bernama