Shares on Bursa Malaysia turned lower at mid-morning today as selling in blue chips dampened market sentiment, dealers said.
At 11.02 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.81 points lower at 1,749.34, down from 1,760.25 at the opening.
RHB Research said as the index closed slightly below the immediate 1,759 point support, the 1,747-1753 level has become the next support, with an additional support at the 1,726-point
"Look for an immediate tough resistance at the 1,765-point level, followed by the 1,789-point level.
"Despite the recent sell-off, we think the market is going through a healthy correction as it has never experienced a lengthier breather period after the major correction seen in 2011," the research house said in its 'FBM KLCI Technical Analyzer' note today.
Market breadth was negative with losers outpacing gainers 466 to 168, while 265 counters were unchanged, 810 untraded and nine others suspended.
On the scoreboard, the FBM Emas Index fell 64.44 points to 12,022.91, the FBMT100 Index lost 60.59 points to 11,747.23, and the FBM 70 declined 72.99 points to 13,049.03.
The FBM Emas Syariah Index contracted 64.44 points to 12,022.91 and the FBM Ace slid 84.53 points to 5,891.4.
On a sectoral basis, the Finance Index was down 65.15 points to 15,583.48, the Industrial Index trimmed 24.16 points to 3,179.5, and the Plantation Index lost 24.8 points to 8,056.24.
Turnover stood at 741.85 million shares worth RM551.06 million.
Of the heavyweights, Maybank lost two sen to RM8.93, TNB and Public Bank declined 20 sen each to RM13.58 and RM18 respectively, Axiata decreased 12 sen to RM6.82 while Sime Darby rose six sen to RM9.57.
Among actives, Minetech eased one sen to 10 sen while Hubline and MAS were flat at four sen and 26.5 sen, respectively. – Bernama, December 4, 2014.
"Despite the recent sell-off, we think the market is going through a healthy correction as it has never experienced a lengthier breather period after the major correction seen in 2011," the research house said in its 'FBM KLCI Technical Analyzer' note today.
Market breadth was negative with losers outpacing gainers 466 to 168, while 265 counters were unchanged, 810 untraded and nine others suspended.
On the scoreboard, the FBM Emas Index fell 64.44 points to 12,022.91, the FBMT100 Index lost 60.59 points to 11,747.23, and the FBM 70 declined 72.99 points to 13,049.03.
The FBM Emas Syariah Index contracted 64.44 points to 12,022.91 and the FBM Ace slid 84.53 points to 5,891.4.
On a sectoral basis, the Finance Index was down 65.15 points to 15,583.48, the Industrial Index trimmed 24.16 points to 3,179.5, and the Plantation Index lost 24.8 points to 8,056.24.
Turnover stood at 741.85 million shares worth RM551.06 million.
Of the heavyweights, Maybank lost two sen to RM8.93, TNB and Public Bank declined 20 sen each to RM13.58 and RM18 respectively, Axiata decreased 12 sen to RM6.82 while Sime Darby rose six sen to RM9.57.
Among actives, Minetech eased one sen to 10 sen while Hubline and MAS were flat at four sen and 26.5 sen, respectively. – Bernama, December 4, 2014.
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