Bursa Malaysia opens lower after mixed Wall Street performance

BURSA Malaysia opened lower on Monday amid a mixed Wall Street performance last Friday.

At 9.10 am, FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 1.20 of-a-point to 1,547.91 from Friday’s close of 1,549.11.

The benchmark index opened 0.18 of-a-point weaker at 1,548.93.

Market sentiment was negative with losers surpassing gainers 230 to 221, while 289 counters were unchanged, 1,574 untraded and 29 others suspended.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng reckons the market undertone will remain steady in the near term, supported by encouraging corporate results and an inflow of foreign funds, although profit-taking may set in.

“As such, we anticipate the benchmark index to trend within the range of 1,545-1,555 for today,” he told Bernama. 

Meanwhile, he said crude palm oil (CPO) futures are currently on an uptrend, hovering just below the RM4,000 per tonne level.

“Should the CPO futures break the RM4,000 per tonne level, we reckon investors will take positions on the plantation sector,” he added. 

On the local bourse, heavyweights Maybank inched down two sen to RM9.51, while Public Bank, CIMB, Tenaga Nasional and Petronas Chemicals were each flat at RM4.48, RM6.41, RM11.28 and RM6.95.  

As for the actives, Hong Seng Consolidated edged up half-a-sen to 2.5 sen, Dagang NeXchange added 1.5 sen to 37.5 sen, YTL Corporation increased three sen to RM2.50, Seng Fong and Master Tec perked by 4.5 sen each to 81.5 sen and 58 sen. 

On the index board, the FBM Emas Index slid 7.32 points to 11,512.04, the FBMT 100 Index shed 8.23 points to 11,163.94, the FBM Emas Shariah Index reduced 7.19 points to 11,554.59, the FBM 70 Index narrowed 9.72 points to 15,582.80 and the FBM ACE Index was 13.12 points lower at 4,872.77.

Sector-wise, the Financial Services Index fell 11.81 points to 17,333.58, the Industrial Products and Services Index went down 0.05 of-a-point to 177.80 and the Plantation Index slipped 51.54 points to 7,196.29, however the Energy Index was 3.98 of-a-point firmer at 933.87. — BERNAMA / pic MEDIA MULIA