Bursa Malaysia marginally lower at mid-morning

Bursa Malaysia marginally lower at mid-morning

KUALA LUMPUR,. Bursa Malaysia turned mixed at mid-morning, with the barometer index marginally easier and weighed down by mild profit-taking in selected heavyweight stocks.

At 11.01am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.65 of a-point lower at 1,684.32 from yesterday’s close of 1,684.97 after opening 0.83 of-a-point higher at 1,685.80.

On the broader market, gainers led decliners 307 to 215, while 278 counters were unchanged, 1,078 untraded and 73 others suspended.

Volume stood at 609.15 million units valued at RM575.32 million.

Among heavyweights, Maybank rose three sen to RM9.43, Public Bank added 10 sen to RM24.90, while Petronas Chemicals was flat at RM9.27 and CIMB increased three sen to RM5.73.

Of the top losers, KESM lost 50 sen to RM8.00, Tenaga fell 42 sen to RM14.30 and Dutch Lady contracted 30 sen to RM63.20.

Meanwhile, the most active stock, Genting Malaysia share price eased two sen to RM2.98.

This came after news that Walt Disney Co and Twenty-First Century Fox Inc issued a counter claim saying that it rejected Genting Malaysia’s legal suit accusing them of abandoning a licensing contract tied to the planned construction of a Fox-branded theme park.

Disney and Fox said Genting Malaysia’s respective claims against them were “without merit”.

Genting Malaysia is seeking over US$1 billion (RM4.2 billion) in damages for abandoning the contract, claiming that Disney does not want to be associated with its gaming business as the Hollywood giant moves to finalise its acquisition of 21st Century Fox’s entertainment assets.

Other active stocks include Sanichi Technology, which fell half-a-sen to 16.5 sen, while Hibiscus Petroluem, which rose 3.5 sen to RM1.02.

The FBM Emas Shariah Index decreased 14.09 points to 11,729.53, the FBM Ace Index was 34.55 points lower at 4,860.95 but the FBM 70 was up 66.52 points at 13,739.40.

The FBM Emas Index gained 10.45 points to 11,682.92 and the FBMT 100 Index bagged 9.75 points to 11,542.47.

Sector-wise, the Plantation Index slipped 42.75 points to 6,953.65, the Industrial Products and Services Index was 0.07 of-a-point weaker at 171.62 but the Financial Services Index was 46.35 points higher at 17,369.71. — Bernama