KUALA LUMPUR, June 1 — Shares on Bursa Malaysia started off the week on a mixed note, with the benchmark index weighed on by continued profit taking and weak buying demand.
As at 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.75 points easier at 1,745.77, after opening 4.30 points better at 1,751.82.
Maybank Investment Bank expects the index to continue its downtrend today after recently breaking out of the 1,774 points support level.
“The FBM KLCI’s tone has turned weaker since that high of 1,867.53. We now expect a downside test of the next support level and target 1,736, 1,735, 1,716 and 1,670.
“We recommend a ‘sell on rallies’ stance for the index and expect support at 1,735 to 1,746 to be weaker, whilst very heavy liquidation activities may cap rebounds at the resistance areas of 1,756 and 1,782,” it said in research note today.
Gainers outpaced losers 159 to 128 with 160 counters unchanged, 1,368 untraded and 21 others suspended.
Turnover amounted to 232.91 million shares worth RM91.48 million.
Among heavyweights, Maybank declined four sen to RM8.99, TNB slipped two sen to RM13.34, Axiata slid one sen to RM6.57, while Public Bank rose six sen to RM18.56.
On actives, Hubline was half-a-sen lower at 1.5 sen, Xinghe earned half-a-sen to 7.5 sen, Frontken added one sen to 26.5 sen, while RGB International was flat at 7.5 sen.
On the scoreboard, the FBM Emas Index fell 2.40 points to 12,094.97 and the FBMT100 Index declined 3.82 points to 11,780.29.But the FBM 70 gained 26.12 points to 13,305.
The FBM Emas Syariah Index advanced 10.17 points to 12,586.62 points, while the FBM Ace slipped 40.42 points to 6,508.17 points.
On a sectoral basis, the Plantation Index depreciated 2.5 points to 7,265.28 points and the Finance Index shed 26.88 points to 15,568.79 points, as the Industrial Index was 7.69 points better at 3,191.31. — Bernama
