KUALA LUMPUR, Jan 7 — Bursa Malaysia opened lower this morning, bucking the regional trend as the market’s risk appetite was curbed by renewed concerns over possible lockdowns in certain states and the uncertainties in the local political scene.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 9.52 points to 1,582.45 after opening 2.44 points weaker at 1,589.53, compared to Wednesday’s close of 1,591.97.
On the broader market, losers led gainers 363 to 149, while 1,305 counters were unchanged, 266 untraded and 13 others suspended.
Volume stood at 859.88 million units worth RM358.78 million.
Rakuten Trade Sdn Bhd head of research Kenny Yee Shen Pin said the FBM KLCI, which was sold down rather heavily yesterday, might see some bumpy roads ahead.
“Nonetheless, we expect some bargain hunting to emerge, thus we expect the index to trend within the 1,585 — 1,600 range today,” he said in a note today.
Meanwhile, crude palm oil futures had breached the RM4,000 per tonne level, while oil benchmark Brent crude closed higher at US$54.30 per barrel following the decline in supplies.
In the local market, heavyweights Maybank eased four sen to RM8.20, Public Bank fell 20 sen to RM20.14, Tenaga gave up 16 sen for RM10.26, Petronas Chemicals slipped two sen to RM7.08, and Top Glove trimmed three sen to RM5.73.
On the contrary, IHH Healthcare bagged eight sen to RM5.63.
Of the actives, Advance Synergy discounted one sen to 17 sen, while Vortex, Ageson, Iris and Talam were flat at six sen, 13 sen, 37 sen and three sen, respectively.
On the index board, the FBM Emas Index was 76.08 points lower at 11,403.41, the FBMT 100 Index decreased 78.64 points to 11,145.15, the FBM 70 decreased 147.71 points to 14,515.72, the FBM Emas Shariah Index contracted 61.79 points to 12,786.63 and the FBM ACE shed 29.72 points to 10,535.56.
Meanwhile, the Industrial Products and Services Index slipped 0.66 of-a-point to 171.91, the Financial Services Index erased 119.16 points to 14,851.21, while the Plantation Index gained 3.05 points to 7,350.22. — Bernama
Source: Malay Mail
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