MARKET > NEWS

BURSA MALAYSIA REMAINS LOWER AT MIDDAY

14/11/2024 01:47 PM

By Zufazlin Baharuddin

KUALA LUMPUR, Nov 14 (Bernama) -- Bursa Malaysia remained lower at midday today, mirroring the mostly weaker regional market performance after US consumer price index (CPI) data last night showed sticky inflation.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ) shed 4.11 points to 1,607.39 from yesterday’s close of 1,611.50.

The benchmark index started the day 3.39 points higher at 1,614.89 and moved between 1,606.51 and 1,615.84 throughout the morning trading session. 

The market breadth was negative as decliners led gainers 450 to 410, while 474 counters were unchanged, 1,120 untraded and 21 suspended.

Turnover stood at 1.91 billion shares valued at RM1.18 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the US inflation is higher than expected, with CPI and core CPI rising to 2.6 per cent and 3.3 per cent year-on-year, respectively.

“The US inflation target is two per cent but the CPI data last night came in higher. Besides, the investors also want more stimulus from China to provide direction for the market,” he told Bernama.

According to reports, signs of sticky US inflation have fuelled uncertainty over future interest rate cuts, while investors held out for more stimulus measures in China.

Among the heavyweights, SD Guthrie fell 12 sen to RM4.89, Maxis lost 10 sen to RM3.53, Maybank shed two sen to RM10.40, Tenaga Nasional slid four sen to RM14.36, while Public Bank remained unchanged at RM4.47.

Among the active stocks, Life Water declined five sen to 89 sen, Mpire Global slipped 2.5 sen to 18.5 sen, while both Cape EMS and Classita gained 1.5 sen each to 39 sen and six sen, respectively, and Mega Fortris added three sen to 62 sen.

On the index board, the FBM Emas Shariah Index climbed 2.06 points to 12,166.58, the FBM 70 Index increased 74.36 points to 17,916.63, while the FBM ACE Index gave up 12.99 points to 5,128.62, the FBM Emas Index shed 4.64 points to 12,201.07, and the FBMT 100 Index slipped 7.25 points to 11,903.59.

Sector-wise, the Industrial Products and Services Index eased 0.21 of-a-point to 169.03, the Plantation Index declined 19.19 points to 7,700.97, and the Financial Services Index slid 16.88 points to 19,174.73, while the Energy Index put on 8.09 points to 829.65.

-- BERNAMA


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