Bursa Malaysia stays lower at midday

Bursa Malaysia stays lower at midday
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KUALA LUMPUR (Nov 29): Bursa Malaysia was lower at midday on Monday on continuous selling activities as investors tried to calibrate the economic risks from the new Covid-19 variant.

However, the selling pressure lessened as the local stock market was also tracking the US equity futures and crude oil markets which moved higher after heavy selling on Friday (Nov 26). 

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.14% or 2.11 points to 1,510.11 from 1,512.22 at last Friday's close.

The index, which opened 4.43 points weaker at 1,507.79, moved between 1,501.51 and 1,512.01. 

Losers led gainers 777 to 322, while 313 counters were unchanged, 900 untraded and 78 others suspended.

Total volume stood at 3.38 billion units worth RM2.59 billion. 

According to reports, the World Health Organisation (WHO) is working with researchers to better understand the new coronavirus variant named Omicron that was first detected in South Africa. 

Meanwhile, among the heavyweights, Malayan Banking Bhd dropped five sen to RM8.05, Public Bank Bhd eased three sen to RM3.98, Petronas Chemicals Group Bhd shed 23 sen to RM8.20, Tenaga Nasional Bhd dipped six sen to RM9.33, and CIMB Group Holdings Bhd reduced three sen to RM5.01, while IHH Healthcare Bhd increased eight sen to RM6.64. 

Of the actives, AT Systematization Bhd rose half-a-sen to six sen, Dagang NeXchange Bhd fell half-a-sen to 81 sen, and Careplus Group Bhd added 20 sen to RM1.42. 

On the index board, the FBM Emas Index decreased 22.59 points to 11,056.54 and the FBMT 100 Index contracted 20.31 points to 10,742.34, but the FBM Emas Shariah Index gained 22.68 points to 12,063.43.

The FBM 70 lost 48.25 points to 14,406.36 but the FBM ACE climbed 48.41 points to 6,511.72.   

Sector-wise, the Industrial Products and Services Index erased 3.74 points to 192.47, the Financial Services Index trimmed 108.79 points to 15,034.88, and the Plantation Index slipped 67.99 points to 6,394.05.