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KL shares turn lower mid-morning in range bound trading

Bursa Malaysia resumed afternoon session on a easier note, reversing its earlier gains on the back of weak buying momentum especially for bluechips in Kuala Lumpur June 29, 2017. — Bernama picBursa Malaysia resumed afternoon session on a easier note, reversing its earlier gains on the back of weak buying momentum especially for bluechips in Kuala Lumpur June 29, 2017. — Bernama picKUALA LUMPUR, Oct 11 — Share prices on Bursa Malaysia turned lower at mid-morning  in range bound trading, with the barometer FTSE Bursa Malaysia KLCI (FBM KLCI) weighed down by profit taking in selected heavyweight stocks, dealers said. 

At 11am, the FBM KLCI was 0.24 of a point easier at 1,756.97, after opening 3.11 points higher at 1,761.12  from yesterday's close of 1,757.21.

On the broader market, losers led gainers  299 to 309 with 377 counters unchanged, 875 untraded and 35 others suspended.

Turnover stood at 1.26 billion shares worth RM523.55 million.

In a note, Hong Leong Investment Bank said on Bursa Malaysia, trading activities among the Internet-of-Things stocks, should remain active as higher volumes were noticed over the past week.

Also, the oil and gas sector may pick up amid firmer crude oil prices, it added.

Of the heavyweights, Public Bank and Petronas Chemicals gained two sen each to RM20.58 and RM7.34 respectively, TNB fell 14 sen to RM14.06, Sime Darby eased one sen to RM9.08, while Maybank was flat at RM9.55.

Among active counters, Pemaju Industries bagged 2.5 sen to 38 sen, Key Asic rose 3.5 sen to 30.5 sen, Hubline added one sen to 16 sen, Asiamet Education advanced 7.5 sen to 24 sen, while Mtouche warrant eased half-a-sen to half-a-sen.

The FBM Emas Index shed 9.74 points to 12,568.77, FBMT 100 Index slid 8.85 points to 12,216.73, the FBM Emas Shariah Index decreased 24.87 points to 12,840.93 and the FBM 70 slipped 37.80 points to 15,157.76.

The FBM Ace jumped 64.56  points to 6,863.15.

Sector-wise, the Plantation Index expanded 7.0 points to 7,945.13 and the Industrial Index eased 0.28 of a point to 3,22.99, as the Finance Index was 5.46 points lower at 16,523.11. — Bernama

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