KUALA LUMPUR: The composite index on Bursa Malaysia retreated at midday, weighed down by profit-taking following recent gains, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the morning session 0.48 of a point lower at 1,843.37 after fluctuating in a tight range of between 1,841.76 and 1,845.69.
"As the index climbed to fresh record highs, stocks are expected to encounter sporadic profit-taking pressure in the near term, given the more overbought technical position," TA Securities said.
The research house said immediate resistance will be at 1,860-point level while the subsequent hurdle would be at 1,884-point level.
The key index closed at a new high of 1,843.85 yesterday on follow-through buying amid foreign fund inflows. It also posted a new all-time intra-day high of 1,846.92.
On the scoreboard, the Finance Index gained 13.66 points to 16,905.6, the Industrial Index rose 20.87 points to 3,128.39, but the Plantation Index fell 75.17 points to 9,001.
The FBM Emas Index erased 11.52 points to 12,720.2, the FBMT100 Index lost 11.79 points to 12,452.22, the FBM Ace slipped 4.82 points to 5,619.04 while the FBM 70 lost 48.92 points to 14,114.61.
Losers led gainers 338 to 280, with 307 counters unchanged, 637 untraded and 19 others suspended.
In a mild traded session, turnover totalled 540.245 million shares worth RM809.886 million.
Among actives, both Sumatec Resources and Tiger Synergy inched up half-a-sen each to 30 sen and 22.5 sen, respectively, while INIX Technology added one sen to 21.5 sen.
Of the heavyweights, TNB garnered six sen to RM11.08, Maybank rose four sen to RM10.04, CIMB earned one sen to RM7.71 while Axiata Group was flat at RM6.74. Sime Darby shed one sen to RM9.63.
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