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Bursa Malaysia Opens Lower

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KUALA LUMPUR: Bursa Malaysia opened lower on Friday following the overnight fall on Wall Street, amid lingering negative sentiment brought about by the Greece debt settlement issues, dealers said.

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 2.04 points at 1,714.77 after opening 0.17 point lower at 1,716.64.

Alliance DBS Research said the benchmark index ended sharply lower yesterday to settle at the day’s low of 1,716.81 as market participants chose to play a selling game.

It said the benchmark index is expected to come under pressure to test the lower level again with the subsequent support zone at between 1,700 and 1,706 with the overhead resistance at 1,735.

On the scoreboard, the FBM Emas Index fell 1.29 points to 11,885.58, the FBMT100 Index dropped 3.32 points to 11,560.06, the FBM Emas Syariah Index increased 12.25 points to 12,344.44, the FBM Ace added 4.31 points to 6,412.67, and the FBM 70 gained 34.99 points to 13,013.14.

On a sectoral basis, the Plantation Index was down 1.93 points to 7,267.16, the Finance Index declined 41.14 points to 15,568.34 while the Industrial Index rose 5.78 points to 3,158.77.

Gainers led losers 117 to 98 with 127 counters unchanged, 1,496 untraded and 48 others suspended.

Turnover stood at 68.18 million shares worth RM28.64 million.

Among the heavyweights, Maybank eased four sen to RM9.28, Public Bank shed eight sen to RM18.82 while Tenaga, Sime Darby and Axiata were flat at RM12.56, RM8.51 and RM6.48 respectively.

Of the actively-traded stocks, Frontken added five sen to 26 sen while AirAsia X, Sanichi and IFCA MSC were flat at 22.5 sen, eight sen and RM1.19 respectively.

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