KUALA LUMPUR, June 25 — Bursa Malaysia opened lower this morning as investors took cue from the overnight losses on Wall Street amid weak global sentiment, dealers said.
At 9.03am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 13.03 points lower at 1,725.16 after opening 10.46 points easier at 1,727.73.
HwangDBS Vickers Research said the selling momentum was set to continue today.
“Key US equity bellwethers slid between 0.9 per cent and 1.2 per cent at the closing bell on persistent concerns over premature quantitative easing withdrawal by the Federal Reserve and weakening economic fundamentals in China.
“The bearish external backdrop will likely pile additional selling pressure on Malaysian equities ahead,” it said in a note.
The benchmark FBM KLCI, after slipping below the 1,750 points level, remains vulnerable to further downside risk, possibly pulling back deeper towards the major support line of 1,720 points, the research firm added.
On the scoreboard, the Finance Index erased 131.93 points to 16,372.99, the Industrial Index decreased 19.62 points to 2,894.76 and the Plantation Index trimmed 4.7 points to 8,155.69.
The FBM Emas Index fell 90.81 points to 11,941.43, the FBMT100 Index lost 91.49 points to 11,724.16, the FBM Mid 70 Index trimmed 118.05 points to 13,580.85 and the FBM Ace Index erased 5.09 points to 4,644.35.
Market breadth was negative as losers thumped gainers 156 to 48, with 90 counters unchanged, 1,298 untraded and 22 others were suspended.
Volume amounted at 40.792 million shares worth RM55.387 million.
Among actives, Flonic Hi-Tech inched up half-a-sen to 8.5 sen, Cybertowers added one sen to 18 sen and TDM gained three sen to 78.5 sen.
As for heavyweights, Maybank lost 12 sen to RM10.02, CIMB erased eight sen to RM8.05, both Sime Darby and Petronas Chemicals were seven sen lower at RM9.33 and RM6.51, respectively, while Axiata Group slipped three sen to RM6.57. – Bernama
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