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BURSA MALAYSIA: Bursa Almost Flat In Early Trade

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KUALA LUMPUR: Bursa Malaysia opened almost flat Thursday as its underlying fundamentals remained weak with investors waiting for more cues, especially from the banking sector.

Major financial institutions such as Maybank and CIMB will announce their financial results later today.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.54 of a point better at 1,664.71 from yesterday’s close of 1,664.71.

The barometer index had opened 0.8 of a point higher at 1,664.97.

AllianceDBS Research said the FBM KLCI’s immediate support was at the 1,658 level.

“A fall below 1,658 would put pressure on the index and push it to the subsequent support at 1,650. The hurdle is at 1,686,” said the research firm.

On the scoreboard, the FBM Emas Index slipped 5.06 points to 11,573.9, the FBMT100 Index slid 5.23 points to 11,271.56, the FBM Emas Shariah Index fell 11.68 points to 12,384.48, and the FBM 70 declined 38.08 points to 12,869.34.

However, the FBM Ace rose 25.46 points to 5,772.4.

Sector-wise, the Plantation Index trimmed 26.14 points to 7,876.92 and the Industrial Index shed 1.14 points to 3,243.33.But, the Finance Index perked 14.88 points to 14,013.

There were 125 gainers and 99 losers, while 135 counters unchanged, 1,402 untraded and 59 others suspended.

Turnover stood at 111.89 million shares worth RM78.43 million.

Of the heavyweights, Maybank improved two sen for RM8.65, Tenaga rose eight sen to RM13.28, while IHH Health was flat at RM6.53. Public Bank, however, eased two sen to RM18.32 and Petronas Chemicals fell five sen to RM7.00.

Of the active counters, Genting Malaysia gained four sen to RM4.24, PUC Founder inched up half-a-sen to 10.5 sen, but Genetec shed three sen to 17.5 sen.

— BERNAMA

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