Bursa Malaysia Retreats At Midday On Continuous Profit-taking
By Zufazlin Baharuddin
KUALA LUMPUR, April 29 (Bernama) -- Bursa Malaysia retreated at midday today, following a mixed performance earlier at midmorning as continuous profit-taking activities persisted despite mostly positive regional market trends.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.33 points to 1,519.26 from yesterday's close of 1,521.59.
The index had opened 0.61 of-a-point lower at 1,520.98, and moved between 1,518.68 and 1,524.50 during the morning trading session.
On the broader market, decliners led gainers 411 to 336, while 449 counters were unchanged, 1,244 untraded and 117 suspended. Turnover stood at 2.18 billion shares worth RM893.3 million.
Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said the market movements were likely taking a pause after several days of uptrend.
Yesterday, the local bourse closed at an intra-day high, marking its fourth consecutive session of gains.
'This is a healthy correction for the index to digest and it also provides a base for the index to form a new uptrend,' he told Bernama.
Among the heavyweights, Public Bank shed one sen to RM4.44, IHH Healthcare slid three sen to RM6.86, while Maybank, Tenaga Nasional and CIMB were all flat at RM9.99, RM13.60 and RM6.99 respectively.
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