KUALA LUMPUR (Oct 16): Bursa Malaysia was lower at midday, in sync with regional market performances, prompted by selling in the lower liners and selected heavyweights.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 5.52 points to 1,438.62 from last Friday’s closing of 1,444.14.

The index, which opened 1.22 points better at 1,445.36 on Monday morning, moved between 1,436.5 and 1,446.12 during the session.

On the broader market, decliners beat gainers 543 to 257, while 403 counters were unchanged, 1,151 untraded and 24 others suspended.

Turnover stood at 1.9 billion units worth RM924.47 million.

Malacca Securities Sdn Bhd said given the growing geopolitical uncertainty in the Middle East, the upside could be limited on the local front.

“Nevertheless, traders may focus on Budget 2024, which may provide trading catalysts at least for the near term,” it said.

Regionally, Singapore's Straits Times Index slid 0.68% to 3,164.20, Japan’s Nikkei 225 dropped 1.94% to 31,688.69, and Hong Kong’s Hang Seng Index eased 0.43% to 17,737.68.

Among the heavyweights, Malayan Banking Bhd trimmed three sen to RM8.95, CIMB Group Holdings Bhd lost four sen to RM5.62, Tenaga Nasional Bhd fell seven sen to RM9.95, while IHH Healthcare Bhd was flat at RM5.96.

Public Bank Bhd added one sen to RM4.18 and Petronas Chemicals Group Bhd rose seven sen to RM7.42.

Of the actives, Classita Holdings Bhd inched down 0.5 sen to six sen, Asdion Bhd bagged 2.5 sen to 5.5 sen, Compugates Holdings Bhd added 0.5 sen to 1.5 sen, UEM Sunrise Bhd contracted 3.5 sen to 79.5 sen, while Econpile Holdings Bhd put on one sen to 37 sen.

On the index board, the FBM Emas Index erased 35.8 points to 10,659.14, the FBMT 100 Index declined 32.82 points to 10,324.06, the FBM 70 Index gave up 15.69 points for 14,197.72 and the FBM Emas Shariah Index fell 46.18 points to 10,879.29.

The FBM ACE Index gained 7.19 points to 5,152.14.

Sector-wise, the Plantation Index shaved off 13.36 points to 6,849.37, the Financial Services Index lost 41.12 points to 16,223.06, and the Consumer Products and Services Index contracted 2.54 points to 550.93.

However, the Industrial Products Services Index added 0.22 of-a-point to 174.66, while the Energy Index rose 9.42 points to 886.78.