KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened easier Monday on mild profit-taking and as traders stayed on the sidelines, dealers said.
At 9.17 am, the index stood at 1,711.89, down 6.51 points from Friday’s closing of 1,718.40. It had opened 2.21 points lower at 1,716.19.
Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said he believed the local bourse would trend lower temporarily to correct the recent overbought situation.
“However, Bursa is still a buy, with emerging trading interest, especially in plantation and oil & gas stocks,” he added.
The FBM Emas Index fell 39.09 points to 11,913.45, the FBMT100 Index eased 40.80 points to 11,605.67 and the FBM Emas Syariah Index declined 29.00 points to 12,513.03.
The FBM 70 slid 34.95 points to 13,303.04, while the FBM Ace was up 27.63 points to 5,734.92.
The Finance Index lost 83.48 points to 14,789.06, as the Industrial Index eased 10.78 points to 3,255.15, and the Plantation Index shed 15.74 points to 7,805.78.
Among heavyweights, Maybank slipped five sen to RM9.08, Tenaga was up two sen to RM14.40, while Public Bank and IHH Healthcare declined four sen each to RM19.16 and RM6.65 respectively.
Among the actively-traded stocks were Vivocom, EA Holdings, Borneo Oil and Kanger.