KUALA LUMPUR, Jan 31 ― Bursa Malaysia was mixed in early trading today as losses in small-cap stocks outweighed bargain hunting in index-linked stocks.
At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.61 points higher at 1,551.20 from yesterday's close of 1,545.59, after opening 1.34 points weaker at 1,544.25.
The overall market breadth on Bursa Malaysia was negative with losers outpacing gainers 218 to 173, while 235 counters remained unchanged, 1,365 untraded and 77 others suspended.
Turnover amounted to 335.84 million shares worth RM174.99 million.
In a note, Malacca Securities Sdn Bhd said bargain-hunting activities might take precedence as the local bourse looks to end the week on a stronger footing, although gains are expected to be mild as the key index looks to rebound towards the 1,560 level.
“With the 1,550 key support level not able to be defended, down risk will be located towards the 1,535 or even the 1,500 psychological support level,” it said.
Malacca Securities said the lower liners and broader market shares were unable to build onto their previous session gains, largely impacted by the selldown across global equities, and for now it expects weakness to persist as global equities attempt to find stability.
Of heavyweights, Maybank was one sen lower at RM8.48, Public Bank was flat at RM18.90, Tenaga added eight sen to RM12.56 and Petronas Chemicals was four sen lower at RM6.41.
Among actives, Avillion and Alam Maritim eased one sen each to 15 sen and 14.5 sen respectively, while Impiana Hotel was flat at 2.5 sen.
On the index board, the FBM Emas Index increased 28.21 points to 11,058.18, the FBM Emas Shariah Index fell 30.67 points to 11,743.68, the FBMT 100 Index gained 30.88 points to 10,857.66, the FBM 70 was 5.19 points higher at 13,902.57, and the FBM Ace increased 1.98 points to 5,623.20.
Sector-wise, the Industrial Products and Services Index inched down 0.67 point to 146.55, the Financial Services Index was 53.92 points higher at 14,943.81 and the Plantation Index added 27.82 points to 7,184.53. ― Bernama
