Bursa Malaysia lower in early session

BURSA Malaysia opened lower in tandem with the weaker Wall Street performance overnight. 

At 9.30 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.95 points to 1,438.72 from 1,444.67 at Thursday’s close, after opening 0.46 points weaker at 1,444.21.   

On the broader market, decliners outpaced gainers 336 to 185, while 301 counters were unchanged, 1,552 untraded and 23 others suspended.

Turnover stood at 599.50 million units worth RM425.29 million.

Malacca Securities Sdn Bhd said selling pressure might emerge on the local front, following the selldown on Wall Street.

The brokerage noted that traders are also waiting for United States (US) Federal Reserve chair Jerome Powell’s speech at the Jackson Hole Symposium tonight as it may provide clues for future monetary policies, which may affect the trading environment.

“Meanwhile, the deals between Sime Darby-UMW and KLK-Boustead Plantations could limit the downside risk in the stock market.

“At the same time, given the Malayan Cement’s stellar results, we believe there might be more upside on the building material segment,” it said in a note today.

Among the heavyweights, Petronas Chemicals added one sen to RM4.86 and Maxis rose three sen to RM4.13, while Petronas Chemicals was flat at RM6.85, Maybank fell three sen to RM8.98, Public Bank slipped one sen to RM4.07, CIMB declined two sen to RM5.56 and TNB lost 10 sen to RM9.90.

Of the actives, Boustead Plantations jumped 12 sen to RM1.49, YTL Power surged 16 sen to RM1.91 and Eco World expanded by 5.5 sen to 69.5 sen, while Velesto was flat at 24 sen, RGB International fell one sen to 36.5 sen and CN Asia inched down half-a-sen to 22.5 sen. 

On the index board, the FBM Emas Index narrowed 34.64 points to 10,633.94, the FBMT 100 Index went down 31.19 points to 10,315.90, the FBM Emas Shariah Index discounted 50.43 points to 10,861.32, the FBM 70 Index was 11.23 points easier at 14,145.50, and the FBM ACE Index gave up 39.64 points to 5,275.14. 

Sector-wise, the Energy Index was down by 3.11 points to 820.61, the Industrial Products and Services Index edged down 0.14 of-a-point to 168.70, the Financial Services Index slid by 45.75 points to 16,141.19, and the Plantation Index dipped by 80.69 points to 6,917.63. — Bernama / pic MUHD AMIN NAHARUL

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