Bursa Malaysia opens lower as market awaits new direction

: Shares on Bursa opened mixed today as the global investors await for renewed direction while weighing continuous uncertainty in the global market.

At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 1.27 points to 1,596.14 points from 1,597.41 last Friday.

The index opened 0.18 points higher at 1,597.59.

On the broader market, gainers surpassed losers 115 to 90, while 178 counters were unchanged, 1,604 untraded and 23 others suspended.



Turnover amounted to 130.09 million shares worth RM40.75 million.

Securities in its equity note today said the lack of fresh catalyst is likely to keep the market barometer range bound within the 1,590 and 1,610 levels over the near term.

“Beyond the above levels, the other support and resistance levels are at 1,580 and 1,620 respectively,“ it said.

As of now, many lower liners and broader market shares were trapped in a sideways trend and are also looking for fresh catalysts to allow them to break out of the indifferent trend, it added.

“With no fresh compelling leads, however, we see the FBM Small Cap, FBM Fledgling and FBM ACE market stocks to likely remain range-bound for now,“ it said.

Of the heavyweight counters, Maybank and CIMB both gained one sen to RM8.74 and RM5.03 respectively, Tenaga Nasional shed four sen to RM13.66, Petronas Chemical lost three sen to RM7.66 whole was flat at RM20.16.

As for the actives, and Scomi both gained half-a-sen to 13 sen and 8.5 sen respectively, FGV rose 4.5 sen to 94 sen, while Scomi Energy and Reach Energy added one sen to 12.5 sen and 21.5 sen, respectively.

The FBM Emas Index slipped 4.52 points to 11,278.45, the FBMT 100 Index erased 5.4 points to 11,109.96 and the FBM Emas Shariah Index slid 8.65 points to 11,825.67.



The FBM 70 appreciated 7.18 point to 13,970.34 while the FBM Ace rose 3.75 points to 4,577.02.

Sector-wise, the Financial Services Index rose 15.22 points to 15,477.15, the Plantation Index dropped 2.22 points to 6,778.89 and the Industrial Products & Services Index was 0.25 of-a-point weaker at 154.30.

The physical price of as at 9.30am stood at RM196.42 per gramme, up 92 sen from RM195.50 at 5pm last Friday. — Bernama

Source: The Sun Daily





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