Bursa Malaysia eases at the opening on lack of traders’ participation

On the broader market, gainers outpaced decliners 219 versus 165, while 266 counters were unchanged, 1,218 untraded and 26 others suspended. — Reuters pic
On the broader market, gainers outpaced decliners 219 versus 165, while 266 counters were unchanged, 1,218 untraded and 26 others suspended. — Reuters pic

KUALA LUMPUR, June 2 — Bursa Malaysia was lower at the opening on lack of traders’ engagement after a positive start for the week yesterday, amid improving global geopolitical scenario, better crude oil prices as well as encouraging Covid-19 developments, said dealers.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 8.73 points to 1,481.41 from Monday’s close of 1,490.14.

The index opened 5.63 points weaker at 1,484.51.

On the broader market, gainers outpaced decliners 219 versus 165, while 266 counters were unchanged, 1,218 untraded and 26 others suspended.

Turnover stood at 627.26 million units worth RM330.03 million.

Public Investment Bank Bhd said in a note the FBM KLCI may progress better on the back of potential economic rebound overshadowing strife in American cities that has sparked chaos and curfews.

Regionally, all major indices were still continuing yesterday’s upbeat performance mimicking Wall Street’s overnight modest gains.

Meanwhile, back home, the Ministry of Health (MOH) said it will decide whether to further relax the movement control order (MCO) in a week’s time and will continue to monitor the Covid-19 infection chain in the country.

Among the heavyweights, Tenaga and Public Bank rose six sen each to RM11.96 and RM14.64 respectively, while Petronas Chemicals improved 14 sen to RM6.32.

Maybank declined two sen to RM7.46 and IHH Healthcare decreased four sen to RM5.52.

On the index board, the FBM Emas Index was 54.4 points lower at 10,492.44, the FBMT 100 Index eased 62.78 points to 10,335.93, the FBM Emas Shariah Index fell 104.97 points for 12,119.66, the FBM 70 declined 87.1 points to 13,084.61 while the FBM ACE gained 11.37 points to 5,942.69.

Sector-wise, the Industrial Products and Services Index added 0.64 of-a-point to 130.36, the Financial Services Index garnered 18.75 points to 12,442.04 and the Plantation Index increased 19.08 points to 6,841.21. — Bernama

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