KUALA LUMPUR, Nov 1 — Bursa Malaysia opened slightly higher today but retreated thereafter on profit taking in selected heavyweights and renewed concerns over the global markets’ health, dealers said.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 1.44 points to 1,671.02 from Monday’s close of 1,672.46.

The index opened 1.10 points higher at 1,673.56.

However, on the broader market, gainers led losers 93 to 81, while 169 counters remained unchanged, with 1,305 untraded and 18 others suspended.  

Turnover stood at 54.72 million shares worth RM27.21 million.

Public Investment Bank Bhd said that the local benchmark index struggled to open higher today after global stock markets ended the month on a cautious note as participants awaited a string of central bank policy decisions.

Investors were also concerned on an important economic release due this week and kept a wary eye on developments in the US presidential election race, it said in a research note today.

"Sharp losses for oil prices also kept equity indices reined in as energy stocks lost ground on both sides of the Atlantic.

"Brent crude settled down 2.8 per cent at US$48.30 a barrel, its lowest for a month, as the Organisation of the Petroleum Exporting Countries’ inability to hammer out how to implement supply cuts at a series of technical meetings over the weekend triggered a bout of nervousness,” it added.

The FBM Emas Index declined 11.31 points to 11,774.16, the FBMT100 Index slipped 11.79 points to 11,478.65, and the FBM Emas Syariah Index rose 6.79 points to 12,390.80.

The FBM 70 fell 20.78 points to 13,703.78 and the FBM Ace added 8.12 points to 5,030.10.

Sector-wise, the Plantation Index was 0.33 point weaker at 7,909.45 and the Industrial Index improved 4.74 points to 3,177.44, while the Finance Index shed 31.90 points to 14,549.91.

Of the heavyweights, TNB added 10 sen to RM14.44, while Maybank and Public Bank dipped two sen each to RM7.88 and RM19.84 respectively and Petronas Chemicals went down five sen to RM6.95.

Of the actives, AirAsia X earned one sen to 43 sen, RGB International was flat at 22 sen while Sumatec and Hiap Teck eased half-a-sen each to six sen and 34 sen respectively. — Bernama