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Bursa Malaysia continued its downtrend at midday on weak buying support for heavyweights on the first trading day of 2017, despite improved oil prices, dealers said.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 9.76 points lower at 1,631.17 after closing at 1,641.73 on Friday.
The barometer index opened 4.79 points weaker at 1,636.94 and moved between 1,630.77 and 1,637.56 during the morning session
The local bourse was closed on Monday in lieu of the New Year public holiday which fell on Sunday.
Oil prices rose after the historic deal by the Organisation of Petroleum Exporting Countries, to reduce production, took effect on Jan 1.
US crude added 0.7 per cent to US$54.07 a barrel while the benchmark Brent crude oil rose to US$57.18.
On the broader market, losers led gainers 316 to 300 while 314 counters remained unchanged, 798 untraded and 21 others were suspended.
Turnover stood at 788.38 million shares worth RM339.57 million.
Of heavyweights, Maybank fell 20 sen to RM8, Axiata slipped 19 sen to RM4.53, Tenaga eased 14 sen to RM13.76, Hong Leong reduced 16 sen to RM13.34 and Genting Bhd was down nine sen at RM7.91.
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