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Bursa Malaysia closes midday mixed as profit-taking hits broader market

KUALA LUMPUR: Bursa Malaysia closed midday mixed, as the benchmark index stayed green while the broader market dipped into the red.

At 12.30pm, FTSE Bursa Malaysia (FBM) KLCI  rose 0.26 per cent or 4.25 points from Friday's close of 1,629.97.

The key index opened at 1,633.58 and hovered between 1,628.12 and 1,637.29 levels.

Conversely, the broader market saw decliners led gainers 468 to 443, with 492 counters unchanged, 1,015 untraded and 15 suspended. Turnover amounted to 1.62 billion units valued at RM1.27 billion.

Maybank Investment Bank (Maybank IB) said majority of the sub-sector indices rebounded off last week's lows, with technology sector at the forefront.

"The energy sector index fell into the red today despite crude oil prices remaining elevated, while Dialog outperformed its peers. "Market's focus this week should be on the US consumer price index and producer price index data on Thursday and Friday, respectively," it said.

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