Bursa Malaysia retreated at midday on July 15 as profit-taking in banking and utilities stocks pulled the benchmark index lower, despite positive broader market sentiment.
At 12:30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 5.19 points, or 0.3%, to 1,714.75 from its previous day close of 1,719.94, after trading between 1,713.12 and 1,724.83.
The broader market was mixed, with the FBM 70 climbing 104.69 points, or 0.59%, to 17,901.71 and the FBM Shariah rising 30.29 points, or 0.24%, to 12,522.33. Meanwhile, the FBM Emas edged down 5.35 points to 12,656.58, while the FBM ACE Index slipped 0.81 point to 1,026.92.
Despite the mixed index performance, market breadth remained positive, with gainers outnumbering losers 509 to 457. A total of 498 counters were unchanged, while 1,239 were untraded and 11 suspended.
Among the top gainers, Nestlé (M) Bhd rose RM1.50 to RM92, followed by Malaysian Pacific Industries Bhd, which added RM1.02 to RM45.42. UWC Bhd, IHH Healthcare Bhd and Pentamaster Corporation Bhd also posted solid gains.
The decline came as heavyweight banking and utility counters came under selling pressure, with Hong Leong Bank Bhd, Petronas Gas Bhd and LPI Capital Bhd among the benchmark’s biggest losers. Batu Kawan Bhd led the overall decliners, falling 48 sen to RM21.22, while Fraser & Neave Holdings Bhd shed 26 sen to RM29.02.
Trading activities, on the other hand, stayed robust, with Tanco Holdings Bhd topping the most active list after 664.78 million shares changed hands. VS Industry Bhd, newly ACE Market listed Enest Group Bhd, HHRG Bhd and PA Resources Bhd were also actively traded.
Total turnover for midday stood at 2.67 billion shares valued at RM1.44 billion.
