Bursa Malaysia gives up Wednesday’s gains to open easier in early trade

Bursa Malaysia gives up Wednesday’s gains to open easier in early trade

KUALA LUMPUR,. Bursa Malaysia retreated from yesterday’s close to open lower on Thursday as the market’s tone turned slightly cautious ahead of Bank Negara Malaysia’s announcement on Malaysia’s economic performance for the fourth quarter of 2020.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 1.30 points to 1,595.55 from 1,596.85 at Wednesday’s close.

The index kick-started trading 5.34 points better at 1,602.19.

Market breadth was negative with losers outpacing gainers 224 to 194, while 237 counters were unchanged, 1,493 untraded and 14 others suspended.

Total volume stood at 204.39 million units worth RM91.94 million.

Malacca Securities Sdn Bhd, in a note, said market participants might reduce trading activities prior to the long weekend.

“Hence, the FBM KLCI may stay within a range-bound mode throughout the session,” it added.

The brokerage firm anticipated the energy sector to stay in focus on Thursday amid firmer Brent crude oil price, which was traded above US$60.

“Also, recovery-themed sectors such as the banking, aviation and gaming sectors may still be on traders’ radar at least for this week,” it added.

Meanwhile, Bursa Malaysia has announced a half-day trading for Thursday, the eve of Chinese New Year, and all-day closure for Friday.

The stock exchange said trading on Feb 11 will be opened for the morning session only and there will be no trading in the afternoon session.

Bursa Malaysia and all its subsidiaries will resume operations on Feb 15.

Among the heavyweights, Maybank lost two sen to RM8.01, PBBank advanced two sen to RM4.24, PChem erased 10 sen to RM7.46, and Tenaga was five sen higher at RM9.80.

Of the actives, SAPNRG and DNex improved half-a-sen to 13 sen and 34.5 sen, respectively, while Kanger, AAX, Yongtai and IStone were all flat at 10.5 sen, two sen, seven sen, 23 sen and 24 sen, respectively.

Of the gainers, BAT added 46 sen to RM13.62, MPI accumulated 42 sen to RM36.70, Carlsbg inched up 28 sen to RM22.62, and KAB was 24 sen higher at 1.26.

On the index board, the FBM Emas Index shed 0.88 of-a-point to 11,617.66, the FBMT 100 Index eased 2.95 points to 11,342.27, and the FBM Emas Shariah Index erased 2.75 points to 13,050.21.

The FBM ACE fell 22.61 points to 10,725.34 but the FBM 70 increased 20.35 points to 15,181.50.

Sector-wise, the Financial Services Index advanced 1.72 points to 15,023.53, while the Plantation Index fell 22.69 points to 7,161.50, and the Industrial Products and Services Index fell one point to 179.33,




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