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Bursa opens lower on weak Wall Street showing

bursa-opens-lower-on-weak-wall-street-showing

KUALA LUMPUR,. Bursa Malaysia opened lower this morning, tracking the weaker Wall Street performance overnight.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.16 points to 1,521.08, from Wednesday’s close of 1,525.24,

The index opened 0.56 of-a-point lower at 1,524.68.

On the broader market, losers outpaced gainers 230 to 113, while 252 counters were unchanged, 1,603 untraded and seven others suspended.

Turnover stood at 230.04 million units worth RM90.29 million.

In a research note today, Malacca Securities Sdn Bhd said investors would be monitoring the news on the appointment of a new Prime Minister for the country and the formation of a new government to decide their investment exposure.

Additionally, it said traders might focus on recovery theme sectors in view of the further easing of business standard operating procedures for states under Phase Two of the National Recovery Plan.

It said buying interest was also seen in glove stocks after the local Covid-19 daily tally hit yet another record high at 22,242 cases on Wednesday.

“Meanwhile, we believe the recovery theme sectors such as construction, building material and property are expected to gain traction with the smooth vaccination progress,” said Malacca Securities.

Among the heavyweights, Hong Leong Bank advanced six sen to RM18.38, IHH Healthcare was flat at RM5.79, Maybank and Petronas Chemicals eased four sen each to RM8.10 and RM7.95, respectively, Public Bank declined two sen to RM3.92 and TNB shed five sen to RM9.84.

Of the actives, Avillion gained one sen to 20 sen, Sedania Innovator rose 4.5 sen to 80.5 sen, AppAsia inched up half-a-sen to 17.5 sen, KNM was flat at 21 sen and Advance Synergy slipped 1.5 sen to 18 sen.

On the index board, the FBM ACE was 3.89 points higher at 7,115.88, the FBM Emas Index discounted 26.35 points to 11,121.61, the FBM Emas Shariah Index went down 22.51 points to 12,240.24, the FBMT 100 Index eased 28.04 points to 10,836.21, and the FBM 70 went down 31.48 points to 14,595.87.

Sector-wise, the Industrial Products and Services Index inched down 0.46 of-a-point to 190.14, the Financial Services Index decreased 48.75 points to 14,810.28, and the Plantation Index improved by 18.32 points to 6,412.18. — Bernama

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