BURSA MALAYSIA: KL Shares Lower At Opening

BURSA MALAYSIA: KL Shares Lower At Opening

KUALA LUMPUR, Oct 7 (Bernama) — Bursa Malaysia opened lower today on profit-taking activities and in tandem with the downtrend among regional peers.

At 9.25 am, the key index was down 3.49 points to 1,659.02, after opening 3.86 points lower at 1,658.65.

JF Apex Securities expects the key index to consolidate below the resistance of 1,670 points, following the mixed overnight performance of Wall Street, as the bulls took a breather with investors looking out for this month’s reporting season.

“Meanwhile, European stocks rallied after crude oil prices climbed above US$50 per barrel and gains in miners and auto companies,” it added.

Japan’s Nikkei 225 contracted 0.12 per cent to 18,160.55, Hong Kong’s Hang Seng declined 0.10 per cent to 21,831.62 and Singapore’s Straits Times was down 0.26 per cent to 2,889.78.

On the local front this morning, market breadth was positive as gainers outpaced decliners 207 to 141, while 200 counters were unchanged, 1,249 untraded and 25 others suspended.

Turnover stood at 331.72 million shares worth RM187.51 million.

The FBM Emas Index decreased 7.71 points to 14,230.25, the FBMT100 was down 11.74 points to 11,152.45, with the FBM Emas Shariah 2.05 points lower at 12,149.56.

The FBM 70 rose 30.18 points to 12,435.96 and the FBM Ace improved 26.04 points to 5,756.32.

On a sectoral basis, the Finance Index eased 7.71 points to 14,230.25 and the Industrial Index slid 8.48 points to 3,251.87, as the Plantation Index went down 10.3 points for 7,346.55.

Of the heavyweights, Maybank added one sen to RM8.70, Public Bank rose four sen to RM18.24, TNB depreciated four sen to RM12.12 and Axiata fell three sen to RM5.97.

Among the actively-traded stocks were AirAsia in jumping nine sen to RM1.34, KNM showing an increase of five sen to 50 sen, while AirAsia X and Sumatec gained one sen each to 21 sen and 16 sen respectively.