KUALA LUMPUR (Oct 24): Bursa Malaysia ended the morning trading session on Tuesday on a low note as investors stayed cautious ahead of the earnings reporting week for mega-cap corporations such as Microsoft, Alphabet, Meta and Amazon, a dealer said. 

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 4.18 points to 1,433.94 from Monday’s closing of 1,438.12.

The index, which opened 0.16 of a point better at 1,438.28, moved between 1,430.15 and 1,440.28 during the session.

On the broader market, decliners beat gainers 363 to 338, while 431 counters were unchanged, 1,236 untraded and 13 suspended.

Turnover stood at 1.54 billion units worth RM850.91 million.

Should the results of the mega caps beat estimates, buying support may emerge and put a pause on the recent selling tone, according to Malacca Securities Sdn Bhd.

“We think buying interest may emerge within the technology sector, taking a cue from Nasdaq overnight, rebounding for the first time after a four-day losing streak ahead of mega caps’ earnings," it said in a note. 

The brokerage firm also expects follow-through buying support within the construction and property sectors as HSS Engineers Bhd (HSSEB) and IOI Properties Group Bhd have rebounded significantly for the session.

Bursa heavyweight counters Maybank Bhd and CIMB Group Holdings Bhd shed three sen to RM8.96 and RM5.63 respectively, Public Bank Bhd slid one sen to RM4.15 and Tenaga Nasional Bhd eased four sen to RM9.81, while Petronas Chemicals Group Bhd gained nine sen to RM7.16. 

Of the actives, IOI Properties Bhd was unchanged at RM1.82, HSSEB eased one sen to 86.5 sen, Widad Group Bhd gave up seven sen to 46.5 sen, Metronic Global Bhd fell half a sen to 1.5 sen, while Revenue Group Bhd rose two sen to 23 sen. 

On the index board, the FBM Emas Index lost 10.32 points to 10,567.48, the FBMT 100 Index was 13.26 points lower to 10,248.19, the FBM Emas Shariah Index weakened 7.49 points to 10,789.68 and the FBM ACE Index decreased 27.69 points to 4,997.01.

The FBM 70 Index gained 54.55 points to 13,909.36.

Sector-wise, the Industrial Products and Services Index was 0.29 of a point better at 170.54, the Plantation Index slipped 14.34 points to 6,859.27, the Energy Index went down 1.76 points to 866.18 and the Financial Services Index dipped 43.41 points to 16,160.41.