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Bursa Malaysia in red at midday as energy, banking & healthcare stocks under selling pressure

KUALA LUMPUR: Bursa Malaysia was in the red during the midday session, with declines in the financial services, healthcare, and energy sectors.

At 12:30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 0.46 per cent or 7.77 points to 1,667.47 from Wednesday's closing of 1,675.24.

The broader market remained negative, with 756 losers outnumbering 295 gainers, and 438 stocks unchanged. 

Malacca Securities Sdn Bhd said following Nvidia's post-market drop, local technology stocks may face increased selling pressure, particularly due to the stronger ringgit.

"Meanwhile, foreign funds are expected to continue focusing on blue chips and liquid banking stocks in the near term.

"Additionally, the stronger ringgit could benefit the consumer sector, as evidenced by Farm Fresh Bhd's positive earnings report," it added.

In the commodity market, Brent oil fell for the second consecutive session, attributed to a smaller-than-anticipated reduction in US inventories last week. 

Gold prices stayed above US$2,500, while CPO prices remained slightly below RM3,900.

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