KUALA LUMPUR, Sept 8 — Bursa Malaysia opened lower today, after yesterday’s gains, taking the cue from the overnight flat performance on Wall Street after investors digested the outcome of the European Central Bank’s meeting yesterday, dealers said.

The bank had hinted that it might taper its stimulus plan in October after leaving interest rates on hold.  

At 9.07am,  the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.45 of a point easier at 1,782.53 against yesterday’s close of 1,782.98.

The benchmark index opened 1.91 points lower at 1,775.06.

On the broader market, losers led gainers 156 to 84 with 190 counters unchanged, 1,404 untraded and 23 others were suspended.

Kenanga Investment Bank Bhd, in a note, said yesterday’s trading depicted an improvement in sentiment.

"Despite mostly neutral readings from indicators, the previous two days’ bullish moves reflected an increase in investors’ willingness to enter the fray.

"Notably, the FBM KLCI is now in the midst of testing the 1,783 resistance level where a decisive breakout above this level would be crucial to influence follow-through buying while downside support levels in remain unchanged at 1,760,” it said.

Meanwhile, Alliance DBS Research said there were more willing buyers than willing sellers in the game play given a choice to trade the stock market.

"While it remained premature to confirm anything at this juncture, the ability on the part of the benchmark index to keep its lows above the 1,765 in the last two days was something to be contended with as this showed that market participants were not in a hurry to sell aggressively into the market in spite of the sell down on  Sept 5, 2017,” it added.

Heavyweights,  Maybank and Sime Darby added two sen each to RM9.51 and RM9.05, respectively, CIMB Group shed seven sen to RM6.84 while Tenaga and Public Bank were flat at RM14.56 and RM20.58, respectively.

Among active counters, PUC and its warrant as well as PDZ Holdings added 1.5 sen each to 15.5 sen, nine sen and six sen, respectively, Sino Hua-An improved two sen to 20 sen while IRIS was flat at 19 sen.

The FBM Emas Index was 8.61 points lower at 12,692.04, FBM 70 slipped 21.04 points to 15,231.99, the  FBMT 100 Index eased 6.57 points to 12,365.08 and the FBM Ace fell 8.72 points to 6,679.44.

The FBM Emas Shariah Index added 2.41 points to 12,886.76,

Sector-wise, the Industrial Index added 8.86 points to 3,214, the Plantation Index rose 24.53 points  7,905.73 but the Finance Index fell 20.08 points to 16,721.44. — Bernama