KUALA LUMPUR, Sept 1 — Bursa Malaysia opened lower today on lack of buying interest as traders were cautious over the timing of the next interest rate hike by the US Federal Reserve. 

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI was 1.33 points easier at 1,676.73 against Tuesday's close of 1,678.06. 

It opened 4.29 points higher at 1,682.35.

Bursa Malaysia closed yesterday for the Merdeka day celebration. 

A dealer said the weaker local equity market performance was in line with the weaker sentiment on regional bourses as traders awaited the US economic data which would be the factor in deciding on the interest rate hike. 

"Fresh from the Merdeka public holiday, we maintain our view that the key index will continue with its sideways consolidation pattern within 1,650-1,700 for the remaining two days of trading session before entering the weekend. 

"Overhead resistance is tied at 1,700 and 1,720, while supports are located at 1,680/1,650,” Kenanga Research said in a note. 

The FBM Emas Index eased 17.33 points to 11,766.07, the FBMT 100 Index decreased 19.08 points to 11,477.70 and the FBM Emas Syariah Index fell 33.36 points to 12,397.14. 

The FBM 70 lost 58.41 points to 13,577.25, but the FBM Ace was 15.62 points lower at 5,243.41. 

Sector-wise, the Finance Index rose 18.78 points to 14,446.80, the Plantation Index gained 1.33 points to 7,838.17 and the Industrial Index went up 4.33 points to 3,155.40. 

Losers led gainers 138 to 117, while 150 counters were unchanged, 1,267 untraded and 14 others suspended. 

Turnover stood at 139.66 million shares worth RM108.57 million. 

Among heavyweights, TNB rose four sen to RM14.78 and Maybank added two sen to RM7.84. 

Public Bank gained 10 sen to RM19.90 and Petronas Chemicals slid five sen to RM6.64. 

Of actives, NETX fell half-a-sen to 2.5 sen, AirAsia X increased half-a-sen to 38 sen and DBE Gurney was flat at 4.5 sen. — Bernama