KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia ended the morning session slightly lower due to profit-taking in industrial products, services as well as consumer products stocks, along with mixed performances from regional peers.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.68 of-a-point lower at 1,613.41, compared with Wednesday’s close of 1,614.09. 

The index opened 2.05 points higher at 1,616.14 and moved between 1,610.77 and 1,617.78 during the morning session.

Market breadth turned to negative, with losers leading gainers 486 to 453. A total of 507 counters were unchanged, 1,010 untraded and 11 suspended.

Turnover reached 2.14 billion units, valued at RM1.37 billion.

Malacca Securities Sdn Bhd noted that the positive overnight performance on Wall Street, driven by gains in US technology stocks and traders pricing in another potential rate cut following softer ADP non-farm employment change and Institute for Supply Management (ISM) Services Purchasing Managers' Index data, is likely to spur buying interest in the local market.

“We expect the Bursa Malaysia technology sector to be supported by an elevated US dollar and strong results from selected technology companies. 

“Bullish momentum in YTL-related counters suggests further buying interest in the utilities, construction and building materials sectors,” it said in a note today.

Hong Leong Investment Bank Bhd (HLIB) said the benchmark index is poised to revisit the 1,625-1,648 level (support: 1,586-1,600), supported by the “window dressing” effect in December, which has had a 90 per cent hit rate for the past 10/20 years with positive returns of 1.5 per cent/1.8per cent.

“However, the FBM KLCI could face formidable barriers at the 1,650-1,660 zone given the exodus by foreign investors, lingering geopolitical tensions, US Federal Reserve’s rate-cut uncertainty, China’s weak growth and Trump 2.0’s ‘Make America Great Again’ policy,” it said in a research note today.

Heavyweight Maybank and IHH gained two sen each to RM10.20 and RM7.32 while Public Bank fell one sen to RM4.52 and Tenaga Nasional was two sen down to RM13.62. CIMB was flat at RM8.20.

Newly listed Cropmate Bhd remained the top active counter which increased one sen to 21 sen with 184.51 million shares transacted.

Supermax firmed 10 sen to 98.5 sen, JCY International and Bumi Armada gained three sen each to 51.5 sen and 62.5 sen. But Silver Ridge slipped 14 sen to 50 sen.

On the index board, the FBM Emas Index expanded 3.48 points to 12,318.11, the FBMT 100 Index climbed 3.39 points to 12,004.07 and the FBM 70 Index jumped 36.12 points to 18,273.22. 

The FBM Emas Shariah Index lost 2.77 points to 12,303.69 but the FBM ACE Index decreased 48.25 points to 5,217.00.

Sector-wise, the Financial Services Index gained 18.27 points to 19,151.98 while the Plantation Index strengthened 11.08 points to 7,758.14. The Industrial Products and Services Index slipped 0.49 of-a-point to 175.64 and the Energy Index eased 0.08 of-a-point to 817.40.

-- BERNAMA