Bursa Malaysia opens easier

An investor monitors share market prices in Kuala Lumpur October 11, 2018. — Picture by Ahmad Zamzahuri
An investor monitors share market prices in Kuala Lumpur October 11, 2018. — Picture by Ahmad Zamzahuri

KUALA LUMPUR, April 29 — Bursa Malaysia opened easier today on mild profit-taking after recent gains and declining of oil prices, a dealer said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.32 point to 1,636.06, from Friday's close of 1,638.38.

The benchmark index opened 1.08 points weaker at 1,637.30. 

On the broader market, gainers led losers 136 to 114, while 195 counters were unchanged, 1,467 untraded and 60 others suspended.

Turnover stood at 160.01 million shares worth RM52.87 million.

The dealer said the FBM KLCI was expected to move lower towards the 1,620 to 1,630 level within this week on the expectation of more foreign fund outflows, due to the slowdown in the domestic and global economy.

"This is pushing international investors to shift their asset allocation into safe havens such as bonds and the money market,” he added.

Among heavyweights, Maybank was flat at RM9.14, Public Bank fell 18 sen to RM22.46, Petronas Chemicals went down five sen to RM9.05 and TNB decreased two sen to RM12.12.

Of the actively-traded construction stocks, Sumatec eased half-a-sen to one sen, Seacera declined 5.5 sen to 26 sen and Green Packer increased 5.5 sen to 42.5 sen.

For the top gainers, Yee Lee Corporation added 38 sen to RM2.32, Allianz improved 30 sen to RM13.90 and G3 Global rose 23 sen to RM1.85.

The FBM Emas Index fell 12.50 points to 11,653.31, the FBMT 100 Index was 12.64 points weaker at 11,464.48 and the FBM Emas Shariah Index eased 10.49 points to 11,875.43.

The FBM 70 eased 1.73 points to 14,729.00 and the FBM Ace was lower by 2.51 points to 4,791.33.

Sector-wise, the Financial Services Index fell 20.05 points to 16,861.41, the Plantation Index slid 0.81 of a point to 7,297.66 and the Industrial Products & Services Index was 0.19 of a point lower at 171.82. — Bernama