Bursa retreats after higher opening

Bursa retreats after higher opening

KUALA LUMPUR,. Bursa Malaysia opens higher but retreated slightly thereafter as market participants await fresh leads to garner momentum for the day.

At 9.24am, the FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 0.47 of-a-point to 1,678.5 from yesterday’s close of 1,678.5.

At the opening, the index was 2.25 points higher at 1,681.22.

Market breadth, however, was positive, with 216 gainers outpacing 134 decliners, 240 counters unchanged, 1,258 untraded and 19 others suspended.

Turnover stood at 270.55 million units worth RM167.98 million.

Public Investment Bank Bhd in a note said the S&P 500 index meanwhile, carved out a fresh intraday record at 3,002.89, briefly punching through a psychological milestone at 3,000.

“The index, however, pulled back from that level to close 0.5 per cent higher at 2,993, just shy of its July 3 closing record at 2,995.82,” it said.

The Dow Jones Industrial Average finished 0.3 per cent higher at 26,860.

Among heavyweights, Tenaga increased four sen to RM13.78, CIMB and Maybank rose one sen each to RM5.34 and RM8.95, respectively, while Hap Seng, MISC and IHH Healthcare were flat at RM9.95, RM7.23 and RM5.81 respectively.

Meanwhile, Public Bank declined six sen to RM23.06.

Of the actives, UWC Bhd which made its debut in Bursa Malaysia Main Market yesterday emerged the most active stock, improving seven sen to RM1.47, followed by Dolomite which increased four sen to 21.5 sen, ARB Bhd rose 1.5 sen to 48.5 sen, while KNM declined half-a-sen to 30.5 sen and Ikhmas Jaya eased one sen to 25 sen.

The FBM Emas Index rose 4.68 points to 11,884.63 and the FBMT 100 Index gained 3.32 points to 11,716.88.

The FBM Emas Shariah Index was 6.81 points better at 12,266.24, the FBM 70 added 31.28 points to 14,873.5 and the FBM Ace increased 16.9 points to 4,624.84.

Sector-wise, the Financial Services Index eased 4.35 points to 16,763.41, the Industrial Products & Services Index declined 0.51 of-a-point to 160.95, and the Plantation Index trimmed 0.7 of-a-point to 6,958.88. — Bernama