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BURSA MALAYSIA: Bursa Opens Lower

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KUALA LUMPUR: Bursa Malaysia gave up gains from Wednesday to open lower Thursday on a lack of buying interest and in line with its weaker regional peers.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.16 points weaker at 1,641.42 from yesterday’s close of 1,644.58.

The index opened 4.49 points lower at 1,640.09.

Market breadth was negative, with losers outpacing gainers 127 to 108, while 186 counters were unchanged, 1,281 untraded and 12 others suspended.

Turnover in early trade stood at 116.28 million shares worth RM51.78 million.

AllianceDBS Research said the FBM KLCI’s support is pegged at the 1,633.00 level.

“Overall the market action yesterday revealed that buying power was stronger than selling pressure. As such, the FBM KLCI would likely trade above the 1,646.96 level today,” said the research firm.

It said while the market development in the last two days was encouraging, it would still need stronger buying confidence to drive the market upward.

Among heavyweights, Maybank, IHH Healthcare, Petronas Chemicals and Sime Darby each eased one sen to RM8.84, RM6.49, RM6.40 and RM7.61 respectively, while TNB was two sen higher at RM14.02.

Of the actives, Kanger and Vivocom were each flat at 27.5 sen and 35.5 sen respectively, while DPS added 1.5 sen to 11.5 sen.

The FBM Emas Index declined 18.00 points to 11,484.55, the FBMT100 Index fell 19.24 points to 11,172.13, and the FBM Emas Shariah Index fell 15.71 points to 11,961.04.

The FBM 70 declined 14.26 points to 12,964.22 and the FBM Ace shed 7.50 points to 5,766.60.

Sector-wise, the Finance Index dipped 33.41 points to 14,570.74 and the Plantation Index slid 20.49 points to 7,487.49 and the Industrial Index shaved off 7.29 points to 3,071.65.


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