Bursa Malaysia ended Wednesday's morning trading session lower as it took overnight cues on Wall Street after good inflation data in the US dented expectations of an interest rate cut by the Federal Reserve (Fed) in May.
At exactly 12.30 this afternoon, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.89 points to 1,525.48 compared to 1,531.37 on Tuesday.
The barometer index opened 3.58 points lower at 1,527.79 and moved between 1,521.79 and 1,530.95 throughout the session.
The overall market sentiment was negative where losers outnumbered gainers by 474 to 266. Meanwhile, 377 counters were unchanged, 1,183 counters were not traded and 10 were suspended.
In reference to Public Investment Bank Bhd, the main index showed an increase of 19.09 points to close at 1,531.37 yesterday with gainers outnumbering losers at 654 to 297.
He also said that the FBM KLCI is expected to rise towards the next resistance level of 1,551 in the near term if there is a penetration of the actual price increase above the 1,515 level.
Meanwhile, among heavyweight stocks, Maybank Bhd dropped three sen to RM9.41, Public Bank Bhd dropped two sen to RM4.38, Tenaga Nasional Bhd dropped eight sen to RM11, Petronas Chemicals Group Bhd dropped seven sen to RM6.77. and CIMB Group Holdings Bhd added one sen to RM6.35.
As for active shares, YTL Power Bhd lost six sen to RM3.92, Ekovest Bhd lost half a sen to 54 sen, Dagang Nexchange Bhd rose 1.5 sen to 35 sen and YNH Property Bhd lost 1.5 sen to 66 sen.
On the index board, FBM Gold Index fell 33.16 points to 11,340.85, FBMT 100 Index fell 32.71 points to 10,997.08, FBM 70 Index fell 5.63 points to 15,328.68, FBM Gold Shariah Index fell 43.87 points to 11,368.77 and FBM ACE fell 25.43 points to 4, 808.09.
In terms of sectors, the Real Estate Index fell 2.25 points to 925.31, the Plantation Index fell 56.27 points to 7,220.36, and the Energy Index fell 2.44 points to 888.96.
The Financial Services Index fell 18.1 points to 17,130.15, and the Industrial Products and Services Index fell 0.62 points to 174.14.
