Bursa Malaysia remains in negative territory at mid-morning

Nov 14, 2016
At 11.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.12 points to 1,615.07 from last Friday's close of 1,634.19, after opening 5.76 points easier at 1,628.43.
At 11.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.12 points to 1,615.07 from last Friday’s close of 1,634.19, after opening 5.76 points easier at 1,628.43.

Bursa Malaysia remained in negative territory at mid-morning today, weighed down by losses in most heavyweights due to heightened uncertainty over a US interest rate hike.

At 11.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.12 points to 1,615.07 from last Friday’s close of 1,634.19, after opening 5.76 points easier at 1,628.43.

Losers led gainers 515 to 135, while 254 counters were unchanged, 777 untraded and 16 others suspended.

Turnover stood at 569.01 million shares worth RM517.59 million.

A dealer said the weak performance was mainly driven by outflows of foreign funds following Donald Trump’s unexpected US presidential election win, which strengthened the case for quicker tightening policies by the Federal Reserve.

Among heavyweights, TNB fell 20 sen to RM14, Maybank declined five sen to RM7.75, Public Bank was 14 sen lower at RM19.50 and Petronas Chemicals lost three sen to RM6.78.

Of the actives, Hibiscus was 1.5 sen lower at 26.5 sen, Sinotop added 1.5 sen to 14 sen and RGB gained half-a-sen to 23.5 sen.

The FBM Emas Index lost 128.74 points to 11,375.51, the FBMT100 Index dipped 127.12 points to 11,087.84 and the FBM 70 slid 136.32 points to 13,213.83.

The FBM Emas Shariah Index gave up 143.82 points for 11,960.39 and the FBM Ace decreased 37.89 points to 4,926.7.

Sector-wise, the Finance Index shrank 123.81 points for 14,159.32, the Industrial Index was 46.39 points lower at 3,063.09 and the Plantation Index lost 27.39 points to 7,732.63.

Source: Bernama

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