Bursa Stays Lower At Midday

Bursa Malaysia stayed lower at midday on Wednesday, dragged down by persistent selling in selected heavyweights mainly in the financial services sector and staying in sync with the downbeat regional markets.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 0.67%, or 10.08 points, to 1,488.75 from Tuesday’s close of 1,498.83.

Public Bank Bhd fell seven sen to RM4.32, Malayan Banking Bhd dropped nine sen to RM9.01 and CIMB Group Holdings Bhd fell nine sen to RM5.96. These stocks pulled the benchmark index down by a combined 5.6 points.

The FBM KLCI, which opened 1.03 points weaker at 1,497.80, moved between 1,487.90 and 1,497.80 during the morning session.

On the broader market, decliners beat gainers 611 to 281, while 425 counters were unchanged, 902 untraded and 20 suspended.

Turnover amounted to 3.02 billion units worth RM1.37 billion, Bernama reported.

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