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BURSA MALAYSIA: Bursa Opens Lower

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KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today on cautious trading, reversing Wednesday’s gains and following the downbeat overnight performance of Wall Street.

At 9.03 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.64 points lower at 1,650.94 from Wednesday’s close of 1,657.58, after opening 4.53 points weaker at 1,653.05.

Market breadth was slightly positive as gainers led losers 89 to 78, with 115 counters unchanged, 1,421 untraded and seven others suspended.

Turnover was thin at 64.43 million shares worth RM18.52 million.

Maybank Investment Bank said the United States market fell as investors sold down stocks due to weaker than expected private sector jobs data in April.

The Dow Jones Industrial Average fell 99.65 points to 17,651.26 and the S&P 500 was 12.25 points lower at 2,051.12.

The data is a key gauge of the health of the US economy.

Among heavyweights, Maybank fell four sen to RM8.50, TNB eased six sen to RM14.02, Public Bank dropped 16 sen for RM18.76, while IHH Healthcare was flat at RM6.56.

Of the actives, R&A Telecommunication added one sen to two sen, JAG was flat at 9.5 sen and Vivocom eased half-a-sen to 34 sen.

The FBM Emas Index lost 39.53 points for 11,515.18, the FBMT100 Index shed 40.88 points to 11,211.21, and the FBM Emas Shariah Index gave up 24.10 points to 12,093.29.

The FBM Ace slid 6.50 points to 5,649.75 and the FBM 70 was 32.18 points lower at 12,918.00.

Sector-wise, the Plantation Index declined 6.83 points to 7,614.39, the Finance Index lost 100.60 points to 14,344.70 and the Industrial Index shed 4.93 points to 3,160.14.


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