KUALA LUMPUR: Bursa Malaysia ended the morning trading session lower as markets continued to reprice the protracted West Asia conflict.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 5.71 points to 1,675.12 from Monday’s close of 1,680.83.
The benchmark index, which opened 3.22 points higher at 1,684.05, moved between 1,674.08 and 1,687.60 throughout the session.
Market breadth was negative with losers surpassing gainers 482 to 296, while 530 counters were unchanged, 1,339 untraded, and 11 suspended.
Turnover stood at 1.48 billion units worth RM1.16 billion.
Hong Leong Investment Bank (HLIB) said elevated energy prices, driven by disruptions in the Strait of Hormuz and key Persian Gulf infrastructure, are weighing on risk appetite and clouding global growth prospects.
At the time of writing, Brent crude increased by 1.67 per cent to US$111.66 per barrel.
"As a highly trade-dependent market, the FBM KLCI is expected to extend its consolidation in a fragile and headline-driven environment. Key support is seen at 1,630-1,664, with resistance at 1,705, 1,723 and 1,730,” it said in a research note today.
Among the heavyweights, IHH Healthcare advanced six sen to RM8.65, Petronas Chemicals jumped 32 sen to RM6.07 and CelcomDigi was flat at RM3.01, while Maybank and Public Bank decreased four sen each to RM11.18 and RM4.60, respectively.
On the most active list, Top Glove gained two sen to 80.5 sen, Tanco went up three sen to RM1.60, Velesto
and Bumi Armada were flat at 35.5 sen and 36.5 sen, respectively, while Reneuco fell 1.5 sen to half-a-sen and Zetrix AI eased half-a-sen to 74.5 sen.
Among the top gainers, Hong Leong Bank surged 38 sen to RM21.62, Allianz Malaysia climbed 26 sen to RM20.66, VSTecs grew seven sen to RM4.60 and Timberwell went up six sen to RM1.14.
As for top losers, Nestle trimmed RM1.68 to RM98.42, United Plantations depreciated 36 sen to RM33.84, Malaysian Pacific went down 30 sen to RM29, and Fraser & Neave reduced 28 sen to RM28.80.
On the index board, the FBM Top 100 Index slid 41.95 points to 12,105.96, the FBM Emas Index shrank 41.95 points to 12,252.12, the FBM Emas Shariah Index trimmed 35.01 points to 12,129.25, the FBM ACE Index slipped 24.42 points to 4,276.04, and the FBM Mid 70 Index shed 61.62 points to 16,946.86.
By sector, the Financial Services Index fell 57.91 points to 19,609.15 and the Plantation Index lost 38.61 points to 9,079.05, while the Industrial Products and Services Index added 1.32 points to 184.27, and the Energy Index rose 4.97 points to 816.53. - Bernama
