Bursa Malaysia retreats within a minute of trading

Bursa Malaysia retreats within a minute of trading

KUALA LUMPUR,. Bursa Malaysia retreated within a minute of trading, driven by emerging profit-taking across the heavyweights after recent gains, dealers said.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.5 points to 1,600.15 against Friday’s close of 1,601.65.

The market bellwether opened 0.44 of-a-point higher at 1,602.09.

Overall market breadth was negative with losers leading gainers 293 to 213, while 324 counters were unchanged, 1,323 untraded and five others suspended.

Total volume stood at 392.64 million shares worth RM251.26 million.

Malacca Securities Sdn Bhd said investors were likely to stay cautious as Covid-19 daily confirmed cases remained elevated and may keep an eye on Malaysia’s Markit Manufacturing Purchasing Managers Index that will be released today and the Bank Negara Malaysia’s interest rate decision on Thursday.

“With the rising Covid-19 infections, investors may focus on essential consumers, packaging, healthcare related stocks.

“Besides, trading interest may be noticed in the technology sector following a recent pullback ahead of the companies’ quarterly results,” it said.

The research house expects elevated metal-related price may provide buying momentum into industrial products companies at least for the near term.

Among the heavyweights, Maybank and Maxis rose one sen each to RM8.24 and RM4.61 respectively, Petronas Chemicals added six sen to RM8.26 and Top Glove increased three sen to RM5.68.

Public Bank eased one sen to RM4.14, CIMB Group fell four sen to RM4.10 and Genting deducted 16 sen to RM4.82.

Of the actives, Priceworth slipped half-a-sen to two sen, Careplus earned 13 sen to RM3.04 and LKL bagged 2.5 sen to 36.5 sen.

On the index board, the FBM Emas Index was 13.19 points easier at 11,785.10, the FBM Emas Shariah Index gained 8.84 points to 13,281.34, while the FBMT 100 Index shed 13.53 points to 11,436.63, the FBM 70 declined 29.23 points to 154546.91, and the FBM ACE contracted 13.82 points to 8,832.20.

Sector-wise, the Industrial Products and Services Index increased 0.10 of-a-point to 199.46, the Plantation Index bagged 6.78 points to 6,906.47 and the Financial Services Index lost 10.01 points to 14,860.24. — Bernama

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