Local

23/10/2018

KL shares lower on external development woes

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower and slipped further thereafter this morning as buying sentiment was pressured by unfavourable external developments.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.18 points lower at 1,719.29 from yesterday's close of 1,722.47.

The index opened 0.97 of-a-point lower at 1,721.5.

In a note, PublicInvest Research said among external concerns affecting the FBM KLCI was the weaker overnight performance on Wall Street.

“In the US, energy stocks were among the worst performers in the S&P 500 as Brent oil struggled to regain the US$80-a-barrel mark after Saudi Arabia said it was likely to increase crude output.

“Furthermore, a broadly disappointing round of US corporate earnings added to the cautious mood,” it added.

On the broader market, losers led gainers 127 to 78 with 143 unchanged, 1,556 counters untraded and 29 others were suspended.

Volume stood at 94.1 million units valued at RM53.38 million.

Among heavyweights in Bursa Malaysia, Maybank eased seven sen to RM9.53, Tenaga fell eight sen to RM14.42, while Public Bank and Petronas Chemicals were flat at RM24.98 and RM9.38, respectively.

For actives, Pesona Metro fell half-a-sen to 27 sen, Prestariang rose 3.5 sen to 47.5 sen and MYEG was one sen weaker at RM1.37.

The FBM Emas Shariah Index decreased 11.71 points to 11,851.72, the FBM Ace Index decreased 0.21 of-a-point to 5,071.39 and the FBM 70 was down 12.74 points at 13,679.68.

The FBM Emas Index declined 19.77 points to 11,884.37 and the FBMT 100 Index lost 19.21 points to 11,713.95.

Sector-wise, the Plantation Index added 6.61 points to 7,410, the Industrial Products and Services Index was 0.04 of-a-point weaker at 171.84 and the Financial Services Index fell 54.63 points to 17,441.9.

The physical price of gold as at 9.30am stood at RM158.34 per gramme, up 12 sen from RM158.22 at 5.00pm yesterday. — Bernama