Bursa Malaysia extends downtrend in mid-afternoon

KUALA LUMPUR, Nov 23 — Bursa Malaysia extended its downtrend in mid-afternoon today as the political uncertainty in the country continued.

At 3.05pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.65 points to 1,439.64 from 1,441.29 yesterday.

The market bellwether opened 9.39 points weaker at 1,431.9.

On the broader market, decliners led advancers 402 to 331, while 357 counters were unchanged, 1,211 untraded, and 84 others suspended.

Turnover stood at 1.79 billion units valued at RM892.6 million.

A Special Meeting of the Malay Rulers will be held tomorrow for the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah to seek the views of the Malay rulers concerning the formation of a new federal government.

The special meeting, to be held at Istana Negara, is called following the separate audiences granted to all Barisan Nasional and Gabungan Parti Sarawak representatives this morning.

Among the heavyweight stocks, Maybank gained two sen to RM8.56, Petronas Chemicals rose five sen to RM8.75, and both CIMB and IHH Healthcare added one sen each to RM5.52 and RM5.93, respectively. Public Bank was flat at RM4.29 and Tenaga eased three sen to RM8.41.

As for the actives, Advance Synergy and Malayan United were both flat at 18 sen and 10 sen, respectively, while Eded inched up half-a-sen to 18 sen. ACE Market debutant Eca Integrated soared 55.5 sen to 72.5 sen.

On the index board, the FBM Emas Index was 8.66 points lower at 10,238.5, the FBMT 100 Index declined 6.72 points to 9,969.91 and the FBM Emas Shariah Index erased 13.39 points to 10,365.87. The FBM ACE dropped 24.94 points to 4,947.49.

The FBM 70, however, gained 10.89 points to 12,214.52.

Sector-wise, the Industrial Products and Services Index added 0.01 point to 178.86 and the Energy Index rose 10.89 points to 740.17. The Financial Services Index slid 2.71 points to 16,169.2 while the Plantation Index fell 37.72 points to 6,804.5. — Bernama

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