Bursa opens lower fourth day in-a-row

Bursa opens lower fourth day in-a-row

KUALA LUMPUR,. Bursa Malaysia opened in the red for the fourth consecutive day this week, tracking the weak performance of regional markets and amid cautious investor sentiment.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.89 points to 1,686.52 from yesterday’s close of 1,688.41, after opening 1.98 points easier at 1,686.43 today.

Market breadth, however, was positive with gainers outnumbering losers 94 to 72, with 114 counters unchanged, 1,601 untraded and 20 others suspended.

Volume stood at 50.86 million units valued at RM24.17 million.

In a note today, Maybank Investment Bank Bhd (Maybank IB) said the decline in the overnight trading on US markets continued to compress domestic sentiment.

“Technically, we expect the FBM KLCI to range between the levels of 1,660 and 1,700 today, while downside supports are 1,680 and 1,658,” it said.

Regionally, the Singapore’s Strait Times Index eased 0.34 per cent to 3,043.19, Hong Kong’s Hang Seng Index skidded 0.54 per cent to 25,654.43 and Japan’s Nikkei was down 0.41 per cent to 21,757.04.

Among heavyweights, Maybank eased seven sen to RM9.22, Public Bank declined 18 sen to RM24.34, Tenaga and Petronas Chemicals were flat at RM14.90 and RM9.40 respectively, while CIMB went up two sen to RM5.52.

Of actives, Securemetric shed 1.5 sen to 47.5 sen, Asia Knight inched down half-a-sen to 19 sen, PUC and Seacera were unchanged at 15.5 sen and 22.5 sen respectively, while Tatt Giap advanced half-a-sen to 22 sen.

Daibochi was the top loser, giving up 25 sen to RM1.74, followed by BAT which fell 12 sen to RM37.86, Top Glove trimmed eight sen to RM5.62, SP Setia retreated seven sen to RM1.94 and MI Equipment five sen to RM2.30.

The FBM Emas Index lost 10.40 points at 11,700.22, the FBMT 100 Index dropped 11.78 points to 11,544.01, the FBM 70 eased 9.36 points to 13,689.02 and the FBM Ace Index was 5.37 points lower at 4,919.17.

The FBM Emas Shariah Index improved 7.25 points to 11,834.35.

Sectorwise, the Finance Index slumped 42.69 points to 17,044.66, the Industrial Products and Services Index edged up 0.05 of-a-point to 172.61 and the Plantation Index was 4.16 points firmer at 7,255.71. — Bernama