Share prices remain lower at mid-day
KUALA LUMPUR, July 24 — Share prices on Bursa Malaysia ended the morning session lower as more investors took a defensive stance amid concerns over a global slowdown, dealers said.
As at 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.81 points or 0.3 per cent to 1,631.36.
Industrial, consumer and technology were the only sectors that recorded gains during the morning session, while the palm oil plantation sector, the biggest loser, declined 0.6 per cent.
Hong Leong Investment Bank Research said the overnight swoon on the U.S.' Dow Jones Industrial Average and European markets prompted further selldown on the local bourse.
However, it added, the selling spree remained mild compared with regional markets due to FBM KLCI's defensive traits and local funds' support ahead of the IHH Healthcare Bhd listing tomorrow.
The Finance Index fell 34.561 points to 14,635.88, the Plantation Index lost 48.01 points to 8,752.05, while the Industrial Index rose 2.9 points to 2,870.2.
The FTSE Bursa Malaysia Emas Index slid 35.26 points to 11,157.92, the Malaysia Mid 70 Index dipped 46.649 points to 12,277.24 and the FTSE Bursa Malaysia Ace Index slipped 21.89 points to 4,257.91.
Losers outpaced gainers 420 to 162 while 312 counters were unchanged, 699 untraded and 14 others suspended.
A total of 354.34 million shares worth RM536.22 million were traded.
Among active stocks, Metronic Global was flat at 9.5 sen, Tanjung Offshore added 16.5 sen to 95.5 sen and Axiata declined four sen to RM5.81.
For heavyweights, Maybank declined three sen to RM8.72, Sime Darby was flat at RM9.94 and CIMB added one sen to RM7.85. — Bernama