BURSA MALAYSIA ENDS MORNING SESSION LOWER

KUALA LUMPUR, April 21 (Bernama) -- Bursa Malaysia ended the morning session lower as investors took profit in anticipation of escalating trade war tensions. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.72 points, or 0.18 per cent, to 1,496.68 from Friday’s close of 1,499.40. 

The benchmark index had opened 2.68 points higher at 1,502.08 before touching a low of 1,495.99.

On the broader market, decliners surpassed gainers 448 to 241, with 419 counters unchanged, 1,317 untraded and 39 suspended.

Turnover stood at 867.10 million shares worth RM517.69 million.

Hong Leong Investment Bank said the near-term market direction hinges on the US tariff negotiations with key trading partners, including Malaysia, by end-April.

“Progress is possible, but talks will likely be prolonged, keeping sentiment cautious with thin volumes.

“Investors will also continue to grapple with a confluence of headwinds, namely escalating US-China tensions, rising recession risks, the US Federal Reserve’s policy uncertainty, volatile Treasury yields, the ongoing US earnings season, and the upcoming May reporting season on Bursa Malaysia,” the investment bank said in a research note today.

Among heavyweights, IHH Healthcare gained one sen to RM6.90, Hong Leong Bank advanced 14 sen to RM19.98, CelcomDigi increased seven sen to RM3.66, Maybank declined two sen to RM10 while Public Bank and CIMB shed three sen each to RM4.36 and RM6.85, respectively. 

As for the actives, NexG and One Glove added one sen each to 33 sen and 21.5 sen, respectively. Magma grew 2.5 sen to 32 sen, Ingenieur Gudang and Sumisaujana were flat at four sen and 18.5 sen, respectively, while Velesto and Tanco slipped one sen to 15 sen and 88 sen, respectively.

On the index board, the FBM Emas Index eased 28.60 points to 11,092.90,  the FBMT 100 Index went down 23.81 points to 10,880.92, the FBM Emas Shariah Index fell 25.04 points to 10,885.09, and the FBM 70 Index dwindled 50.23 points to 15,563.40, while the FBM ACE Index rose 4.11 points to 4,579.49. 

Sector-wise, the Financial Services Index dipped 42.14 points to 17,991.38, the Industrial Products and Services Index inched down 0.69 of-a-point to 144.39, the Energy Index reduced 6.65 points to 659.22, and the Plantation Index trimmed 8.26 points to 7,218.12. 

-- BERNAMA