KUALA LUMPUR, March 16 (Bernama) -- Bursa Malaysia remained lower at midday, weighed down by profit-taking in industrial products and services, consumer products and services, and construction stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.78 points, or 0.11 per cent, to 1,697.07 from last Friday’s close of 1,698.85.
The benchmark index opened 2.44 points lower at 1,696.41 and fluctuated between 1,688.46 and 1,698.75 in the morning session.
Market breadth was negative, with 548 losers outnumbering 306 gainers. A total of 484 counters were unchanged, 1,344 remained untraded, and 21 were suspended.
Turnover stood at 1.25 billion units, valued at RM1.14 billion.
In a note today, Malacca Securities Sdn Bhd said negative sentiment from the West Asia conflict could spill over to the local market, with the closure of the Strait of Hormuz remaining a focal point.
“Higher spot rates, alongside cost pass-throughs from charterers, could benefit MISC Bhd, while Hibiscus Petroleum Bhd is linked to global oil price trends.
“Among oversold plays, solar-related companies are trading at attractive valuations, supported by sizeable order books and government initiatives such as LSS5+, despite China announcing a timeline to end export subsidies for solar photovoltaic components, which has pushed panel prices higher,” the note said.
Among heavyweights, Petronas Chemicals fell 10 sen to RM4.65, PPB Group lost 42 sen to RM10.98, and Gamuda slipped 6 sen to RM4.14. IHH Healthcare rose 13 sen to RM8.96, while Maybank added 8 sen to RM11.40.
On the most active list, Mega Fortris gained 10 sen to RM1.10, Tanco dropped 16 sen to RM1.34, and Zetrix AI eased 1 sen to 74 sen. GDB and VS Industry were unchanged at 37.5 sen and 29 sen, respectively.
Top gainers included Petronas Dagangan, up 70 sen to RM21.96, United Plantations, up 54 sen to RM33.10, Malayan Cement, up 35 sen to RM6.50, Malaysian Pacific Industries, up 20 sen to RM29.82, and Concrete Engineering Products, up 26 sen to RM1.61.
Top losers were Nestle, down 50 sen to RM101.90, Apollo Food, down 34 sen to RM5.55, UMS Integration, down 23 sen to RM4.45, Hong Leong Industries, down 22 sen to RM16.60, and Tanco, down 16 sen to RM1.34.
On the index board, the FBM Top 100 Index fell 19.42 points to 12,230.00, the FBM Emas Index declined 19.93 points to 12,385.90, the FBM 70 Index dropped 56.97 points to 16,974.97, the FBM Emas Shariah Index slid 6.03 points to 12,123.89, and the FBM ACE Index lost 6.76 points to 4,369.04.
By sector, the Financial Services Index fell 53.52 points to 20,364.74, the Industrial Products and Services Index eased 0.05 points to 175.32, and the Energy Index trimmed 4.97 points to 792.13, while the Plantation Index rose 49.01 points to 8,493.20.
-- BERNAMA
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