Share prices turn negative at mid-morning

KUALA LUMPUR, Jan 30 – Share prices on Bursa Malaysia turned negative at mid-morning today weighed down by losses seen in most key heavyweights, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,626.43 as at 11.17 am, falling 10.91 points, after opening 1.85 points higher at 1,639.19.

For the heavyweights, Maybank shed one sen to RM8.90, CIMB and Petronas Chemicals lost four sen each to RM7.20 and RM5.99 respectively, while Sime Darby and Axiata eased six sen each to RM9.31 and RM6.29.

OSK Investment Bank Bhd Technical Analyst Mohammad Ashraf Abu Bakar said the local market is taking a breather following recent gains.

“It could be now three to four selling days,” he told Bernama.

He also said the immediate support and resistance levels would be at 1,645 and 1,600 respectively.

The Finance Index meanwhile, declined 40.69 points to 14,830.08, the Plantation Index dropped 58.48 points to 7,989.65, and the Industrial Index eased 23.12 points to 2,749.96.

The FBM Emas Index slid 64.8 points to 11,075.46, the FBMT100 lost 66.94 points lower at 10,924.9, the FBM Ace Index slipped 8.37 points to 4,102.85 and the FBM Mid 70 Index fell 45.19 points to 12,109.5.

Losers led gainers by 310 to 155, with 281 counters unchanged, 915 untraded and 41 others suspended.

Volume stood at 456.151 million shares worth RM537.251 million.

Among actives, newly listed China Automobile rose 24.5 sen to 92.5 sen, while Patimas was flat at 11.5 sen.

Both Compugates and Oriented Media Group lost half-a-sen each to 8.5 sen and 11 sen, respectively. – Bernama



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