Kuala lumpur: Bursa Malaysia experienced a midday decline of 0.36 per cent, primarily impacted by selling activities in major stocks such as Maybank, CIMB, and 99 Speed Mart. Maybank's shares fell by eight sen to RM12.18, CIMB decreased by seven sen to RM8.52, and 99 Speed Mart dropped six sen to RM3.95. These movements collectively reduced the composite index by 3.88 points.
According to BERNAMA News Agency, at 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 6.39 points to settle at 1,750.0, down from its previous close of 1,756.39. The index started the day slightly lower at 1,755.09 and fluctuated between 1,749.70 and 1,758.06 during the morning trading session. The market exhibited a negative breadth, with 514 stocks declining against 388 that advanced, while 498 remained unchanged, 1,296 were untraded, and 11 were suspended. The trading volume amounted to 1.48 billion units valued at RM1.25 billion.
Malacca Securities Sdn Bhd noted in a research report that the FBM KLCI had shown an upward trend the previous day. However, technical indicators suggest a weak momentum, predicting resistance between 1,771-1,776 and support levels at 1,736-1,741. The firm anticipates that the nearing Chinese New Year and the strengthening ringgit will positively influence PADINI and AEON, highlighting their recent market performance.
In other heavyweight activity, Tenaga Nasional saw a two-sen decline to RM13.98, IHH was down one sen to RM8.74, and Press Metal decreased by five sen to RM7.70, while SD Guthrie increased by one sen to RM5.81. On the active list, newly-listed Kee Ming surged by 47.5 sen to 85.5 sen, and Zetrix AI rose by 1.5 sen to 83 sen. Pharmaniaga experienced a one-sen drop to 31.5 sen, and Borneo Oil decreased by half-a-sen to half-a-sen.
Among the top decliners, Nestle dropped 70 sen to RM110.60, United Plantations fell by 62 sen to RM29.58, and Hong Leong decreased by 12 sen to RM24.68. On the index board, the FBM Top 100 Index fell by 30.51 points to 12,625.10, the FBM Emas Index decreased by 28.59 points to 12,800.18, and the FBM Emas Shariah Index was down by 12.81 points to 12,249.62. Conversely, the FBM Mid 70 Index increased by 27.84 points to 17,585.13, and the FBM ACE Index rose by 9.08 points to 4,759.57.
Sector-wise, the Financial Services Index decreased by 90.34 points to 21,780.04, the Plantation Index dropped by 19.97 points to 8,365.92, and the Industrial Products and Services Index fell by 0.05 points to 176.46. Meanwhile, the Energy Index saw a gain of 2.21 points to 751.30.