Bursa opens lower on wall street’s retreat

Bursa opens lower on wall street’s retreat

KUALA LUMPUR: Bursa Malaysia recouped yesterday’s gains and opened lower today as it took cue from the retreat of the overnight Wall Street performance.

Rakuten Trade Sdn Bhd, in a note today, said the key index also comes under some pressure as the country’s political situation remains fluid.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slid 3.26 points, or 0.21 per cent, to 1,521.94 from 1,525.20 at Tuesday’s close.

The market barometer opened 1.63 points easier at 1,523.57.

Market breadth was neutral with gainers edging past losers 198 to 145, while 271 counters were unchanged, 1,511 untraded and 19 others suspended.

Total volume stood at 2.94 billion units worth RM2.03 billion.

According to Rakuten Trade, Wall Street retreated as traders took profit ahead of the corporate earnings season along with the delay in the United States stimulus package.

“On the local front, as we enter the first day of the Conditional Movement Control Order (CMCO) within the Klang Valley, we believe the benchmark index to possibly test the 1,510 level, which is the immediate support level,” it said.

Of the heavyweights, Maybank slipped three sen to RM7.32, Public Bank fell 10 sen to RM15.86, while Top Glove added three sen to RM9.12, Hartalega and Tenaga bagged four sen each to RM17.62 and RM10.22, respectively.

The most active stocks were led by Metronic Global and its warrant, with each of them ticking up one sen to 11.5 sen and 4.5 sen, respectively, Dataprep edged up one sen to 22 sen, HLT Global was four sen higher at RM1.77, while AirAsia X was flat at four sen.

Top losers included KLK, giving up 30 sen to RM22.16, Carlsberg dropping 10 sen to RM19.40, Petronas Chemicals shrinking nine sen to RM6.05, while MISC and Aeon Credit declining eight sen each to RM6.77, and RM9.90, respectively.

On the index board, the FBM Emas Index trimmed 9.14 points to 11.005.70, the FBMT 100 Index weakened 16.25 points to 10,816.74, while the FBM Emas Shariah Index increased 5.73 points to 13,189.54.

The FBM 70 strengthened 5.27 points to 14,471.33 and the FBM ACE jumped 49.19 points to 10,751.71.

The Financial Services Index contracted 45.89 points to 12,515.79, the Industrial Products and Services Index eased 0.35 of-a-point to 143.41, while the Plantation Index climbed 37.39 points to 7,070.65.-Bernama

Tags assigned to this article:
bursaWall Street