BURSA MALAYSIA REMAINS IN THE RED AT MIDDAY

KUALA LUMPUR, Nov 20 (Bernama) -- Bursa Malaysia remained in the red at midday, weighed down by continuous selling in selected heavyweights, led by financial services and utilities sectors. 

Maybank and Tenaga Nasional eased 12 sen to RM10.12 and RM14.30, respectively, and CIMB slid 4.0 sen to RM8.20. These stocks dragged down the composite index by a combined 4.38 points. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.04 points, or 0.25 per cent, to 1,598.30 from yesterday's close of 1,602.34.

The benchmark index had opened 0.54 of-a-point higher at 1,602.88, and moved between 1,594.51 and 1,606.28 throughout the morning trading session. 

The broader market was negative with decliners outpacing advancers 539 to 316, while 483 counters remained unchanged, 1,128 untraded, and 14 suspended.

Turnover stood at 1.61 billion shares valued at RM1.18 billion.

Malacca Securities Sdn Bhd said with the US dollar remaining elevated, coupled with potential tariffs from the Trump administration, the research house remains optimistic about local export-oriented segments, particularly the technology and glove sectors.

“Meanwhile, we favour the construction, property, and building materials sectors, supported by increased data centre investments that could drive earnings momentum this season.

“In the tourism sector, we see rising momentum in both AirAsia X Bhd and Capital A Bhd,” it said in a note today.

Among other heavyweights, Public Bank shed 2.0 sen to RM4.42, Nestle shrank RM1.24 to RM97.70 and YTL Corporation trimmed 3.0 sen to RM1.97, while CelcomDigi and Petronas Chemicals added 8.0 sen to RM3.48 and RM4.65, respectively.

As for the active stocks, Tanco increased 2.0 sen to RM1.50, while Cape EMS slipped 2.0 sen to 36.5 sen, Malayan Flour Mills gave up 5.0 sen to 58 sen, Life Water was down by 2.5 sen to 91.5 sen and Permaju Industries was flat at 4.0 sen. 

On the index board, the FBM Emas Shariah Index edged up 5.98 points to 12,150.84, while the FBM Emas Index declined 22.59 points to 12,153.52, the FBMT 100 Index shaved 23.32 points to 11,854.06, the FBM ACE Index ticked down 9.99 points to 5,180.27, and the FBM 70 Index erased 10.90 points to 17,907.25.

Sector-wise, the Industrial Products and Services Index bagged 0.74 of-a-point to 171.17 and the Plantation Index widened 3.10 points to 7,667.56, while the Energy Index depreciated 1.63 points to 828.47 and the Financial Services Index dipped 88.56 points to 19,035.66.

-- BERNAMA