KUALA LUMPUR, Oct 15 — Bursa Malaysia opened mixed today, taking the cue from the weaker overnight performance on Wall Street and the uncertainties surrounding the latest round of US-China trade talks.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally lower, slipping 0.05 of a point to 1,567.54 from Monday’s close of 1,567.59.
The benchmark index opened 0.56 points easier at 1,567.03
However, on the broader market, gainers led losers 127 to 87, while 180 counters were unchanged, 1,582 untraded and 22 others suspended.
Turnover amounted to 137.50 million shares worth RM55.45 million.
Malacca Securities Sdn Bhd said it has been a while since the key index managed to tip higher amid the improved sentiments for equities which allowed the key index to stage a rebound from its bout of oversold.
With the market conditions improving, there appears to be more upside potential over the near term as bargain hunting begun appearing after the recent sell-down, it said
“However, we think that the gains may be tempered by the still uncertain developments in the US-China trade front where details of the supposed agreement are still scarce,” it said.
“Therefore, there could be some mild hesitation that could limit the near term gains,” it noted.
On the upside, Malacca Securities said the key index could retest the 1,572 resistance, followed by the 1,575 level while the supports, on the other hand, are at 1,560 and 1,550 respectively, it added.
Among heavyweights, Maybank added one sen to RM8.54, Tenaga eased two sen to RM13.78 and Petronas Chemicals slid five sen to RM7.23.
Public Bank and IHH Healthcare were flat at RM19.16 and RM5.77 respectively.
Of the most actives, NetX Holdings, Hubline, Green Packet’s warrant and Sapura Energy were flat at 2.5 sen, five sen, 31.5 sen and 26.5 respectively.
The FBM Emas Index increased 2.40 points to 11,153.41, the FBMT 100 Index gained 2.40 points to 10,970.39, the FBM 70 rose 10.45 points to 14,036.19 and the FBM Ace improved 1.73 points to 4,650.93.
The FBM Emas Shariah Index slid 4.01 points to 11,778.92.
Sector-wise, the Financial Services Index slipped 5.47 points to 15,128.45, the Plantation Index fell 5.35 points to 6,594.88 while the Industrial Products & Services Index was 0.27 of-a-point easier at 150.53. — Bernama
