File picture shows an investor monitoring stock prices in the gallery of the RHB Investment Bank Bhd headquarters, July 16, 2018. — Bernama pic
After opening 0.61 of-a-point weaker at 1,536.51 this morning, the local index moved between 1,532.89 and 1,537.87 throughout the day. In a note, Malacca Securities Sdn Bhd said with market conditions remaining challenging, the negative market sentiment might prolong as the FBM KLCI looked to re-test the 1,515 level, while a recovery was expected to be mild with gains limited towards the 1,560 level.
Although concerns over the Covid-19 outbreak seems to have subsided for now, it said effects from the outbreak would have an adverse impact on earnings by the United States’ corporates. Among heavyweights on Bursa Malaysia, Maybank erased two sen to RM8.47, Tenaga added 10 sen to RM12.60, Public Bank gained eight sen to RM17.70 and Petronas Chemicals fell seven sen to RM6.48.
Main Market volume rose to 1.81 billion shares valued at RM1.84 billion from 1.74 billion shares valued at RM1.63 billion yesterday.