KUALA LUMPUR, Aug 26 — Bursa Malaysia opened sharply lower today following a dip on Wall Street as the US-China trade war ratcheted up a notch.
At 9.05am, the FTSE Bursa Malaysia KLCI lost 15.14 points to 1,594.19 after opening 11.05 points lower at 1,598.28 compared with yesterday’s close of 1,609.33.
A dealer said the wariness over the market’s direction would once again leave market players on the defensive side and this is likely to lead to fresh profit taking actions after last Friday’s gains.
“The renewed selling pressure could see the 1,600 points level under threat again and if it gives way, the next support is pegged at the 1,590 level. The resistances, meanwhile, remain at 1,610 and 1,620 respectively,” he said.
Among heavyweights, Maybank and Petronas Chemicals lost seven sen each to RM8.64 and RM7.22 respectively, Public Bank dwindled 20 sen to RM20.62 and TNB shed 22 sen to RM13.54.
IHH was flat at RM5.68.
For actives, Talam Transform and Sumatec were flat at 3.5 sen and 2.5 sen respectively, Ekovest and KNM lost 1.5 sen each to 83 sen and 3.5 sen respectively and DRB-Hicom shed 24 sen to RM2.71.
On the scoreboard, the FBM Emas Index fell 113.61 points to 11,272.54, the FBM Emas Shariah Index dwindled 122.301 points to 11,801.89 and the FBMT 100 Index was 116.74 points lower at 11,102.59.
The FBM Ace declined 43.98 points to 4,509.65, the FBM 70 erased 193.74 points to 13,986.71.
Sector-wise, the Financial Services Index weakened 114.35 points to 15,540.98, the Plantation Index contracted 27.43 points to 6,814.26, and the Industrial Products and Services Index was 1.21 point lower at 149.36.
On the broader market, losers surpassed gainers 338 to 41, while 149 counters unchanged, 1,438 untraded and 14 others suspended.
Turnover stood at 184.95 million units worth RM90.45 million. — Bernama
