Bursa Malaysia and its regional peers ended the morning session lower today, impacted by negative sentiment that followed lower crude oil prices, dealers said.
At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 22.82 points to 1,663.29, after hovering between 1,657.88 and 1,674.68 throughout the session.
Losers beat gainers 677 to 203, with 253 counters unchanged, 670 untraded and 30 others suspended.
Turnover stood at 1.41 billion shares worth RM1.09 billion.
A dealer said crude oil prices had slid below US$44 as US stockpiles expanded the glut.
"Oil resumed its decline below US$44 billion as US industry data showed crude stockpiles increasing in the world's largest consumer," Maybank Investment Bank Research said in its note today.
This impacted some of the oil and gas-related stocks, including Shell Refining.
Earlier, the investment bank said the local bourse was also dragged down by the finance-related stocks.
"Foreign investors were net buyers of Malaysian equities in October, but selling on banks has been persistent.
"The aggregate foreign shareholding in banks had declined from 34% end-June 2007 to 23.8% as of end-September 2015," it added.
Among the finance-related stocks, Maybank lost 13 sen to RM8.26, Public Bank dropped 38 sen to RM17.80 and CIMB was eight sen lower at RM4.59.
For other heavyweights, TNB fell four sen to RM13.12, while Axiata was six sen lower at RM6.11.
Among the active stocks, Hibiscus Petroleum eased half-a-sen to 31.5 sen, The Media Shoppe inched down one sen to 9.5 sen. but Bumi Armada was three sen better at RM1.14.
The FBM Emas Index declined 133.68 points to 11,612.49, as the FBMT100 Index contracted 131.82 points to 11,286.53, and the FBMSCAP depreciated 147.41 points to 15,867.58.
The FBM 70 was down 67.37 points to 12,974.09 and the FBM Ace weakened 100.55 points to 6,408.06. – Bernama, November 11, 2015.
Source: http://www.themalaysianinsider.com/business/article/bursa-malaysia-ends-morning-session-lower1#sthash.tCeJajYr.dpuf
