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Bursa Malaysia opens almost flat

KUALA LUMPUR: Bursa Malaysia opened almost flat today in tracking the lower overnight performance of Wall Street as investors took profits, while digesting a mixed bag of corporate updates from big-name US stocks, dealers said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.20 of-a-point lower at 1,637.81, from Wednesday’s close of 1,637.81.

The benchmark index opened 0.67 of-a-point easier at 1,637.34.

On the broader market, gainers led losers 160 to 105, while 215 counters were unchanged, 1,424 untraded and 27 others suspended.

Turnover stood at 262.59 million shares worth RM114.05 million.

Public Investment Bank Bhd in a research note said the shares of energy and communication services in the US left the market lower on Wednesday, while the benchmark indices fell 0.2% overall.

It said the S&P 500 took a breather a day after setting a fresh closing high, lifted by solid earnings and a non-aggresive tone from global central banks.

While the tech-heavy Nasdaq Composite, which also closed at a record on Tuesday, broke above its previous intraday peak during the overnight session, but ultimately finished 0.2% lower.

Kenanga Research said, meanwhile, Bursa which retained its bearish outlook for the FBM KLCI for now, is seeing mild improvements in momentum indicators.

“Should a rebound happen, we look towards 1,660 and 1,700 as resistance levels. Conversely, downside supports can be found at 1,615 and 1,600,” it said in a note today.

Among heavyweights, Maybank recovered two sen sen to RM9.16, while Public Bank and Petronas Chemicals were each flat at RM22.64 and RM9.03 respectively.

Tenaga eased two sen to RM12.32 and CIMB bagged two sen to RM5.27.

For the most active counters, Bumi Armada dropped one sen to 26 sen, Ekovest gained one sen to 94.5 sen and VSolar was flat at 17.5 sen.

For the top gainers, United Plantation ticked up 44 sen to RM27.00, Lafarge increased 15 sen to RM3.16 and Takaful rose 14 sen to RM5.67.

For top losers, YNH Property fell seven to RM1.56, while Carlsberg and UMW shed six sen each to RM24.64 and RM5.52.

The FBM Emas Index ticked up 3.85 points to 11,668.97, the FBMT 100 Index was 2.76 points better at 11,478.28 and the FBM Emas Syariah Index perked 1.24 points to 11,879.08.

The FBM 70 improved 20.09 points to 14,752.86, but the FBM Ace was easier by 11.73 points to 4,777.58.

Sector-wise, the Financial Services Index rose 23.80 points to 16,907.48, but the Plantation Index was 6.57 points lower at 7,258.79 and the Industrial Products & Services Index was 0.18 of-a-point firmer at 171.60.

The physical price of gold as at 9.30am stood at RM163.86 per gramme, up 39 sen from RM163.47 at 5pm yesterday. — Bernama


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FBM KLCI higher at early session

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is slightly higher at the early session today amid mild buying interest in the heavyweights led by Petronas Chemicals and Maybank.

At 9.20am, the benchmark index inched up 0.66 of-a-point to 1,620.39, after opening 0.91 of-a-point to 1,620.64.

On the broader market, gainers outpaced decliners 176 to 82, while 212 counters remained unchanged, 1,438 untraded and 19 others suspended.

Turnover stood at 311.0 million shares worth RM179.04 million.

In a research note today, Maybank Investment Bank said bargain hunting would likely to continue today, particularly in recently beaten down stocks.

“Technically, we expect the FBM KLCI to continue to range between 1,610 and 1,640 today. Downside supports are at 1,615 and 1,600,” it added.

Of the heavyweights, Petronas Chemicals advanced six sen to RM8.99, Maybank gained three sen to RM9.03, CIMB added two sen to RM5.07 and PPB Group jumped 10 sen to RM18.90.

IHH Healthcare and Hong Leong Bank were flat at RM5.48 and RM19.94, respectively, while Public Bank eased six sen to RM22.52, TNB fell two sen to RM12.14 and Maxis went down one sen to RM5.40.

Of the actives, Iskandar Waterfront advanced 7.5 sen to 93.5 sen, Ekovest rose three sen to 62 sen, Sapura Energy and Vsolar Group were flat at 31.5 sen and 15 sen, respectively, while KNM shed one sen to15.5 sen and Seacera shed 1.5 sen to 32 sen.

The FBM Emas Index appreciated 8.72 points to 11,475.84, the FBMT 100 Index went up 7.08 points to 11,305.17 and the FBM Ace Index improved 7.22 points to 4,671.7.

The FBM Emas Syariah Index was 4.01 points higher at 11,685.88, and the FBM 70 expanded 19.24 points to 14,325.37.

Sector-wise, the Plantation Index gave up 2.41 points at 7,216.27, the Financial Services Index rose 25.22 points to 16,709.58, and the Industrial Products and Services Index added 0.33 of-a-point to 168.14.

The physical price of gold as at 9.30am stood at RM164.10 per gramme, down 42 sen from RM164.52 at 5pm yesterday. — Bernama


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