Bursa Malaysia opens marginally lower

BURSA Malaysia opened marginally lower despite the Wall Street’s gains on Friday.

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.34 of-a-point to 1,444.07 from 1,444.41 at the close last Friday.

The key index opened 0.74 of-a-point lower at 1,443.67. 

However, the broader market was positive with advancers surpassing decliners 224 to 161, while 287 counters were unchanged, 1,720 untraded and 23 others suspended.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that the Wall Street closed higher on Friday, primarily due to bargain-hunting activities following three days of selldowns.

“We expect bargain hunting activities to return today, with the FBM KLCI to trend within the 1,440-1,450 range.

“However, some headwinds for the plantation sector may continue following the decline in crude palm oil futures to below RM4,000 per tonne,” he told Bernama, adding that investors might pick up banking stocks following the selldown last Friday.

Among the heavyweights, Petronas Chemicals added one sen to RM6.91, while Maybank and CIMB decreased one sen each to RM9.01 and RM5.60, respectively, Tenaga Nasional slid 17 sen to RM9.80, and Public Bank was flat at RM4.08.  

Of the actives, Iskandar Waterfront expanded 4.5 sen to 64 sen, UEM Sunrise went up one sen to 68 sen and RGB International slipped 2.5 sen to 33.5 sen, while TWL Holdings and Tanco were flat at 3.5 sen and 55.5 sen, respectively.  

On the index board, the FBM Emas Index inched up 4.87 points to 10,667.14, the FBMT 100 Index perked 3.23 points to 10,346.44, the FBM Emas Shariah Index improved 8.51 points to 10,897.48 and the FBM 70 Index was 28.18 points higher at 14,154.49, while the FBM ACE Index gave up 14.62 points to 5,260.28. 

Sector-wise, the Energy Index strengthened 7.41 points to 831.56, the Industrial Products and Services Index edged up 0.04 of-a-point to 169.07, the Financial Services Index rose 4.83 points to 16,195.52, and the Plantation Index dipped by 10.19 points to 6,948.64. — Bernama / pic TMR