Share prices on Bursa Malaysia turned slightly lower mid-morning as most investors were reluctant to take heavy positions in the absence of fresh leads, dealers said.
At 11.11 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.73 points easier at 1,619.2 compared with yesterday’s close of 1,620.93 with losses mostly seen in some heavyweight counters.
Regional bourses were mostly lower with Japan’s Nikkei 225 decreasing 12.71 points to 11,395.16, Hong Kong’s Hang Seng declined 26.91 points to 23,355.03 while Singapore’s Straits Times improved 14.25 points to 3,302.39.
On the local front, the Finance Index dropped 26.021 points to 14.803.01, the Plantation Index lost 36.28 points to 7,884.38 but the Industrial Index rose 10.88 points to 2,795.65.
The FBM Emas Index slipped 19.25 points to 10,999.4, the FBMT100 declined 16.971 points to 10,852.72, the FBM Mid 70 Index slashed 43.439 points to 11,921.19 and the FBM Ace Index was 13.65 points lower at 4,025.51.
Decliners led advancers 262 to 125 with 219 counters unchanged, 1,060 untraded and 17 others were suspended.
Trading was thin with volume amounting to 347.641 million shares worth RM247.632 million.
Top losers, Panasonic Manufacturing lost 82 sen to RM20.18, Dutch Lady was 54 sen lower at RM41.14 and Kuala Lumpur Kepong dropped 36 sen to RM20.92.
Among actives, Compugates and China Automobile eased half-a-sen to nine sen and 42.5 sen, respectively, while The Media Shoppe edged up one sen to 9.5 sen.
Heavyweights, Maybank eased two sen to RM8.85, CIMB shed one sen to RM6.99 while Sime Darby and Axiata were both unchanged at RM9.22 and RM6.27, respectively.
Meanwhile, Bursa Malaysia queried IRM Group Bhd over the sharp increase in price of the company’s shares.
IRM, which opened at 24 sen, rose 2.5 sen or 10.204 per cent to 27 sen with 1.612 million shares traded as at 11.11 am.
IRM via its subsidiaries, is involved in polyvinyl chloride (PVC) raw materials including the manufacture of PVC resins and compounds and investment holding.