Bursa Malaysia remains in consolidation mode at midday
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points, or 0.11 per cent, to 1,536.94 from Tuesday's close of 1,538.64.
The benchmark index opened 0.72 of a point lower at 1,537.92 and moved between 1,533.06 and 1,538.45 throughout the morning session.
The market breadth was negative, with 551 decliners outpacing 272 gainers. Another 436 counters were unchanged, 1,243 untraded and seven suspended.
Turnover stood at 1.53 billion securities worth RM999.51 million.
Apex Securities Bhd said the FBM KLCI index remains in a consolidation phase, with market direction likely hinging on whether the US extends its tariff pause on Chinese imports beyond the Aug 12 deadline.
"A continuation of the pause could support global risk sentiment and benefit Malaysia's export-driven sectors, particularly within the electrical and electronics technology supply chains.
"However, failure to extend the suspension may reignite concerns over global trade tensions, dampen investor confidence, and prompt a pullback in cyclical and externally exposed counters," the brokerage said in a note today.
Among the heavyweights, Maybank fell two sen to RM9.64, Tenaga Nasional was eight sen lower at RM13.20, while Public Bank rose two sen to RM4.26, and IHH Healthcare gained eight sen to RM6.93, and CIMB was flat at RM6.75.
In active trade, NexG was unchanged at 53.5 sen, Top Glove lost 1.5 sen to 62 sen, Inari Amertron dropped 10 sen to RM1.87, Tanco eased three sen to 78.5 sen, and Hartalega slipped eight sen to RM1.24.
Across the broader market, the FBM Emas Index weakened 26.70 points to 11,515.27, the FBMT 100 Index narrowed 23.05 points to 11,283.61, and the FBM Emas Shariah Index fell 34.22 points to 11,534.78.
The FBM 70 Index declined 80.13 points to 16,586.62, while the FBM ACE Index shed 29.56 points to 4,601.90.
By sector, the Financial Services Index edged up 9.01 points to 17,457.47, while the Industrial Products and Services Index erased 1.26 points to 158.14, the Energy Index slid 1.38 points to 739.02, and the Plantation Index dropped 6.77 points to 7,356.58.
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