KUALA LUMPUR, Sept 27 — Bursa Malaysia opened marginally higher today but eased thereafter due to mild profit-taking in selected heavyweights, dealers said.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 1.0 point to 1,531.06, from Friday’s close of 1,532.06.
It opened 0.83 of-a-point higher at 1,532.89.
However, market breadth was positive with gainers outpacing losers 229 to 198, while 346 counters were unchanged, 1,540 untraded and 16 others suspended.
Turnover stood at 379.37 million units worth RM209.13 million.
In a research note today, Malacca Securities Sdn Bhd said it expected the local bourse’s sideways trading to persist as investors are eyeing the 12th Malaysia Plan (12MP) which will be tabled today, noting that construction and property sectors are seeing some trading activities.
“The FBM KLCI finished the volatile week in the negative territory, mirroring the weakness across China and Hong Kong stock markets as investors fret over Evergrande debt concerns,” it said, noting that the key index was mainly dragged down by Tenaga and selected banking heavyweights.
“Commodity-wise, the crude oil price rose above the US$78 per barrel level, while the crude palm oil (CPO) price had declined.
“The Baltic Exchange Dry Index still hovered at a 12-year high despite the retreat on Friday,” it said.
Meanwhile, with the adult vaccination rate rising to 83.1 per cent, it said the government’s expectation on the reopening of inter-state borders in three weeks might benefit the aviation and tourism counters.
“Other sectors such as consumer and technology may also trend higher. Besides, the firmer crude oil price may shine a light on the oil and gas sector,” it added.
Among the heavyweights, Maybank was flat at RM8.10 and Public Bank slipped 1.0 sen to RM4.03, while Petronas Chemicals rose 2.0 sen to RM8.13, IHH Healthcare advanced 6.0 sen to RM6.70 and TNB gained 4.0 sen to RM9.90.
Of the actives, DNex was flat 81 sen, Impiana Hotels went up 1.5 sen to 9.0 sen, KNM improved 1.0 sen to 24 sen, while TFP Solutions fell 1.0 sen to 10 sen.
On the index board, the FBM Emas Index earned 0.84 of-a-point to 11,276.85, the FBMT 100 Index declined 4.53 points to 10,968.99, the FBM Emas Shariah Index went down 1.74 points to 12,302.29, the FBM 70 was 4.08 points higher at 15,015.87, and the FBM ACE expanded by 55.34 points to 7,217.56.
Sector-wise, the Industrial Products and Services Index added 0.66 of-a-point to 201.22 and the Plantation Index perked 3.83 points to 6,299.48, while the Financial Services Index eased 10.64 points to 15,182.80. — Bernama
