KUALA LUMPUR, Dec 3 (Bernama) -- Bursa Malaysia slipped in morning trade on profit-taking in selected heavyweights, led by financial services, industrial products and services, and telecommunications and media sectors.
Maybank eased 14 sen to RM10.20, Press Metal Aluminium dropped 15 sen to RM6.70, and CelcomDigi fell 10 sen to RM3.29, collectively shaving 7.17 points off the composite index.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 8.94 points, or 0.55 per cent, at 1,621.66, from Tuesday’s close of 1,630.60.
The benchmark index, which opened 0.86 of a point higher at 1,631.46, oscillated between 1,621.44 and 1,632.95 during the morning session.
The broader market was negative, with decliners outnumbering gainers 510 to 425. A total of 496 counters were unchanged, 1,273 untraded, and seven suspended.
Turnover stood at 2.23 billion units, valued at RM1.10 billion.
In a research note today, Hong Leong Investment Bank Bhd said locally, markets are digesting the post-Sabah election landscape and the prospect of a cabinet reshuffle, which the Prime Minister Datuk Seri Anwar Ibrahim may use to strengthen Federal-Sabah ties and signal greater inclusivity.
“Externally, the FBM KLCI may see bouts of volatility as investors track the upcoming Bank of Japan meeting, where a potential rate hike could lift the yen and bond yields, heightening carry-trade risks and pressuring risk assets,” it said.
Overall, it said any dips should find strong support near 1,590-1,600, underpinned by firm fundamentals, undemanding valuations, and favourable seasonality.
“This sets the stage for a potential retest of the 1,643-1,659 resistance zone after back-to-back monthly declines in October (-2.7 points) and November (-4.7 points),” it added.
Among other heavyweights, Maxis slid nine sen to RM3.82, Telekom Malaysia went down 14 sen to RM7.56, IHH Healthcare was six sen lower at RM8.30, Tenaga Nasional added 26 sen to RM13.00, and 99 Speedmart increased seven sen to RM3.48.
On the most active list, Tanco gained four sen to RM1.15, D&O Green Technologies perked up seven sen to 83.5 sen, Capital A erased 1.5 sen to 38.5 sen, while TWL and Velesto Energy inched down half-a-sen each to 2.5 sen and 23.5 sen, respectively.
Top gainers included Allianz Malaysia, which rose 46 sen to RM20.26, KESM Industries added 28 sen to RM3.14, Chin Teck Plantations gained 24 sen to RM11.04, Hong Leong Financial Group expanded 20 sen to RM17.82, and Hong Leong Bank firmed by 14 sen to RM21.28.
Among the top losers, Nestle went down RM2.10 to RM118.10, Fraser & Neave eased 80 sen to RM35.56, Petronas Dagangan shed 32 sen to RM20.34, Petronas Gas slipped 18 sen to RM17.52, and MISC weakened 11 sen to RM7.46.
On the index board, the FBM ACE Index improved 8.89 points to 4,789.76, the FBM Mid 70 Index gained 15.38 points to 16,741.38, but the FBM Emas Index declined 40.88 points to 11,990.41, the FBMT 100 Index trimmed by 46.35 points to 11,775.24, and the FBM Emas Shariah Index fell 36.90 points to 11,811.22.
Sector-wise, the Plantation Index strengthened 2.47 points to 8,093.57. However, the Financial Services Index went down 39.81 points to 19,071.17, the Energy Index slipped 2.36 points to 748.05, and the Industrial Products & Services Index edged down 0.97 of-a-point to 164.99.
-- BERNAMA
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