Best Stocks to Buy – Bursa Malaysia remains lower at mid-morning | Money
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KUALA LUMPUR, April 12 — Bursa Malaysia remained low at mid-morning today, dampened by continuous selling in heavyweight stocks, led by the telecommunication sector.
At 11.01am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.39 points to 1,603.86 from Friday’s close of 1,612.25.
Axiata and Digi topped the losers list among the 30 constituent counters after falling by 20 sen and 19 sen to RM3.91 and RM4.27, respectively.
Both stocks dragged the composite index down by a combined 6.32 points.
On the broader market, losers beat gainers 510 versus 360, while 730 counters were unchanged, 557 untraded and nine others suspended.
Total volume stood at 2.69 billion shares worth RM1.42 billion.
In a note today, Rakuten Trade Sdn Bhd expects regional markets to remain mixed in the absence of clear buying catalysts.
“We believe sentiments (on Bursa Malaysia) would stay tepid and expect the index to trend within the 1,595 and 1,605 today,” the research firm said in a note today.
Of the heavyweights, Maybank rose four sen to RM8.33, Top Glove added one sen to RM5.24, while Public Bank was flat at RM4.20.
Petronas Chemicals and IHH Healthcare trimmed three sen each to RM7.80 and RM5.27, respectively, and Tenaga erased four sen to RM10.20.
Among the actives, Luster Industries, Hiap Teck, and Daya Materials bagged half-a-sen each to 26 sen, 51.5 sen and two sen, respectively, while LKL gained three sen to 40.5 sen.
On the index board, the FBM Emas Index fell 36.06 points to 11,862.86, the FBMT 100 decreased 41.14 points to 11,505.42, the FBM Emas Shariah declined 57.23 points to 13,223.93, and the FBM ACE lost 193.55 points to 9,801.99.
However, the FBM 70 rose 16.59 points to 15,803.56.
Sector-wise, the Industrial Products and Services Index added 0.28 of-a-point to 193.84, the Plantation Index went down 13.25 points to 6,970.38, while the Financial Services Index shed 6.26 points to 15,207.57. — Bernama