KUALA LUMPUR, March 16 ― Bursa Malaysia ended the morning trading session lower in tandem with the weaker regional market performance due to renewed selling in the global banking sector, said an analyst.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.03 points lower at 1,395.90 from yesterday's close of 1,403.93.

The key index opened 3.11 points easier at 1,400.82 and subsequently moved between 1,391.04 and 1,403.93 throughout the session.

Market breadth was negative with losers outpacing gainers 677 to 146, while 298 counters were unchanged, 1,146 untraded and 21 others suspended.

Turnover amounted to 1.59 billion units worth RM884.82 million.

In a note, Malacca Securities Sdn Bhd said the global uncertainties have not abated, adding that the Wall Street had turned mixed once again on the back of renewed fears of a banking crisis.

After the collapse of Silicon Valley Bank and Signature Bank, the crisis at Credit Suisse Group AG is making the headlines as the Saudi National Bank would not provide further financial help for the bank.

“We expect that the overall sentiment on the banking sector may turn negative.

“Thus, the local bourse may trade in consolidation mode prior to the United States’ interest rate decision next week,” the brokerage said.

Sector-wise, Malacca Securities said the energy and plantation sectors may stage a pullback in view of the slipping crude oil and crude palm oil prices.

In the meantime, Bursa heavyweights Maybank fell five sen to RM8.30, CIMB lost six sen to RM5.17 and TNB went down four sen to RM9.38, while Public Bank and Petronas Chemicals advanced one sen to RM3.96 and RM7.01, respectively.

Among the actives, Metronic Global edged up half-a-sen to two sen, SMRT Holdings added one sen to 52.5 sen, Capital A shrank 2.5 sen to 77.5 sen, Velesto Energy eased 1.5 sen to 20 sen and Icon Offshore was flat at 9.5 sen.

On the index board, the FBM Emas Index decreased by 77.22 points to 10,184.15, the FBM 70 Index dropped 141.88 points to 13,027.16, the FBMT 100 Index trimmed 68.78 points to 9,882.78, the FBM Emas Shariah Index shed 94.84 points to 10,464.52, and the FBM ACE Index weakened 114.72 points to 5,161.63.

Sector-wise, the Financial Services Index shed 68.68 points to 15,413.77, the Energy Index reduced 32.31 points to 805.69, the Plantation Index shrank 40.82 points to 6,681.49 and the Industrial Products and Services Index eased 1.80 points to 167.76. ― Bernama