Share prices on Bursa Malaysia continued their downtrend at the end of the morning session today with investors selling off their holdings particularly heavyweights, led by banking and plantation counters, dealers said.
Losses mostly seen in Kuala Lumpur Kepong and Public Bank dragged the FTSE Bursa Malaysia KLCI (FBM KLCI) 9.14 points to 1,604.19 compared to yesterday’s closing of 1,613.33.
Kuala Lumpur Kepong and Public Bank, which contributed 3.067 points to the benchmark index’s decline, eased 30 sen and two sen to RM20.52 and RM15.58 respectively.
The barometer index, which opened at 1,609.29, moved between 1,599.94 and 1,610.39 during the morning session.
Meanwhile, Japan’s Nikkei 225 lost 140.94 points to 11,327.34, Hong Kong’s Hang Seng dipped 409.78 points to 22,897.63 and Singapore’s Straits Times slipped 19.15 points to 3,289.74.
On the local front, the Finance Index dropped 78.06 points to 14,747.11, the Plantation Index declined 113.9 points to 7,802.41 and the Industrial Index eased 0.95 of a point to 2,774.21.
The FBM Emas Index reduced 58.17 points to 10,906.59, the FBMT100 dropped 56.47 points to 10,762.87, the FBM Ace Index slashed 71.25 points to 3,926.35 and the FBM Mid 70 Index was 40.05 points lower at 11,871.8.
Decliners led advancers by 414 to 119, with 272 counters unchanged, 871 untraded and 17 others suspended.
Trading was mild with total volume at 518.351 million shares worth RM556.582 million changing hands.
Top losers, Panasonic Manufacturing dropped 48 sen to RM20.50, Nestle lost 40 sen to RM58.30 and Dutch Lady was 38 sen lower at RM41.60.
Actives, The Media Shoppe shed one sen to 7.5 sen while Patimas edged up half a sen to seven sen but Compugates was unchanged at nine sen.
Maybank, which will release its latest quarterly results soon today, eased two sen to RM8.88.
Other heavyweights, Sime Darby, CIMB and Axiata eased one sen each to RM9.20, RM6.97 and RM6.20 respectively.