KUALA LUMPUR, Jan 6 — The key index on Bursa Malaysia opened higher this morning but retreated thereafter as cautious market sentiment ahead of the results of the United States runoff elections weighed on investors’ risk appetite, dealers said.
At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 5.89 points to 1,602.46 after opening 2.4 points higher at 1,610.78 compared to Tuesday’s close of 1,608.35.
On the broader market, gainers slightly outnumbered losers 293 to 252, while 350 counters were unchanged, 1,187 untraded and 13 others suspended.
Volume stood at 719.65 million units worth RM370.11 million.
Rakuten Trade Sdn Bhd head of research Kenny Yee Shen Pin said the US stocks recovered last night as buyers emerged on the back of better economic data and hopes for a speedy US economic recovery.
Nonetheless, sentiments remain tepid as many await the results of the key Georgia Senate run-off elections, he said.
“On the local front, we believe the FBM KLCI to edge higher today on the back of improving crude oil prices and we expect the index to hover within the 1,610/15 range amid the volatile glove counters.
“For today, we expect buying interests could shift to the oil and gas (O&G) stocks following improving crude oil prices with the Brent crude now moving closer towards US$54 per barrel,” he said in a note today.
He believes some of the O&G stocks to look out for are Hibiscus, Reach, Uzma, KNM, Reservoir Link, and Serba Dinamik.
Of the heavyweights, Maybank eased four sen to RM8.27, Public Bank and IHH Healthcare lost 12 sen to RM20.50 and RM5.53, respectively, and Tenaga gave up 10 sen for RM10.44.
However, Petronas Chemicals bagged three sen to RM7.13 and Top Glove rose six sen to RM5.78.
Of the actives, DGB gained five sen to 32 sen, AT Systematization and Iris inched up half-a-sen each to 18 sen and 43 sen, respectively, Vortex added one sen to six sen and Bumi Armada perked two sen to 37 sen.
On the index board, the FBM Emas Index was 31.6 points lower at 11,587.79, the FBMT 100 Index decreased 37.42 points to 11,320.57, the FBM 70 decreased 32.76 points to 14,878.68, and the FBM Emas Shariah Index contracted 13.49 points to 12,961.269.
However, the FBM ACE bagged 50.82 points to 10,867.92.
Meanwhile, the Industrial Products and Services Index added 0.29 of-a-point to 174.58, the Plantation Index improved 6.08 points to 7,360.74, but the Financial Services Index erased 104.28 points to 15,099.88. — Bernama
Source: Malay Mail
No comments:
Post a Comment