Bursa opens mixed on weak sentiment in Asian markets

On the broader market, losers led gainers 409 to 261, while 348 counters were unchanged, 1,147 untraded and 62 others suspended. — Bernama pic

KUALA LUMPUR, Jan 29 ― Bursa Malaysia opened mixed on Friday, supported by buying interest in selected consumer products and services, as well as healthcare counters, amid the weaker sentiment in the Asian markets, dealers said.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.49 points to 1,589.11 from 1,580.62 at Wednesday’s close.

The index opened 16.54 points higher at 1,597.16.

On the broader market, losers led gainers 409 to 261, while 348 counters were unchanged, 1,147 untraded and 62 others suspended.

Total volume stood at 819.264 million units worth RM894.58 million.

In a note today, Malacca Securities said the rebound on Wall Street overnight, coupled with the relaxation of the Movement Control Order (MCO) to allow all businesses to operate until 10pm may contribute to some positive impact on the market, albeit rising COVID-19 cases that may still dampen the economic recovery.

“The FBM KLCI outperformed its regional peers to end mildly higher on Wednesday following the announcement by the Health Ministry on the supply of 18.4 million doses of COVID-19 vaccines by Pharmaniaga and Dpharma in March 2021.

“We continue to favour the consumer products and services sector for its earning certainties during the reporting season. Besides, traders may look out for plantation counters following the surge in crude palm oil price, while technology stocks may still be in the uptrend mode but subject to profit-taking activities after strong gains,” it said.

Among the heavyweights, Maybank gained 6.0 sen to RM7.93, TNB advanced 4.0 sen to RM9.82, Top Glove added 62 sen to RM6.83, while Public Bank slipped 6.0 sen to RM4.30, and Petronas Chemicals fell 3.0 sen to RM6.82.

Of the actives, P.A. Resources improved 1.0 sen to 21 sen, Vivocom perked 5.5 sen to RM1.02, while AT Systematization and Luster Industries earned half-a-sen each to 17.5 sen and 19.5 sen, respectively.

On the index board, the FBM Emas Index surged 33.50 points to 11,488.64, the FBMT 100 Index jumped 38.69 points to 11,229.08, and the FBM Emas Shariah Index was 68.71 points higher at 12,984.31.

The FBM 70 decreased 31.87 points to 14,769.52, while the FBM ACE slipped 5.77 points to 11,160.07.

Sector-wise, the Financial Services Index shed 16.95 points to 14,729.29, the Plantation Index declined 9.96 points to 7,137.20, and the Industrial Products and Services Index eased 1.55 points to 169.59. ― Bernama

Source: Malay Mail