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Bursa Malaysia settles lower at midday

KUALA LUMPUR: Bursa Malaysia ended the morning session in red as some profit taking in blue chips continued.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.43 points or 0.15 per cent to 1,630.44, compared with Thursday's close of 1,632.87.

The index  opened 2.07 points higher at 1,634.94 and traded between 1,628.77 and 1,636.08 during the session.

The broader market, however, is in positive momentum with gainers led losers 506 to 476, while 464 counters were unchanged, 909 untraded, and 11 suspended.

Turnover stood at 2.40 billion units worth RM1.48 million.

Maybank Investment Bank Bhd said the FBM KLCI slipped a couple of points today as some profit taking in blue chips continued.

It said the broad market sentiment flipped to a more positive tone with investors' focus on property, the most traded sector by value, and energy stocks as higher crude oil prices buoyed by optimism surrounding China's stimulus measures.

"With productivity being the main topic for this week, investors may want to keep an eye out for tonight's US ISM manufacturing Purchasing Managers' Index data at 11pm," it said.

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