KUALA LUMPUR, Dec 31 ― Bursa Malaysia opened lower in early trade today on the last calendar trading day for 2021, but the market is expected to see another round of year-end window dressing should the current rebound momentum continue, a dealer said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.14 points to 1,541.47 after the key index closed at 1,543.61 yesterday.
The index opened 0.62 of-a-point weaker at 1,542.99.
On the broader market, losers slightly outnumber gainers 119 to 114, while 210 counters were unchanged, 1,847 untraded and 31 others suspended.
Turnover stood at 118.36 million units valued at RM39.27 million.
Malacca Securities Sdn Bhd, in a research note, said while Omicron fears remain uncertain, so there may be some short-term trading activity on healthcare stocks. However, market participants are expected to focus more on the recovery theme sector as the Omicron impact will not contribute to a full lockdown, at least in the near term.
“Amid the ongoing window-dressing activities, we believe traders will continue to focus on heavyweights. Meanwhile, traders may look out for solid fundamental companies under the consumer sector for the recovery theme.
“Also, we expect the technology sector will remain as the leader going forward amid the steady earnings visibility,” it added.
Of heavyweights, Maybank and Public Bank declined one sen each at RM8.29 and RM4.14 respectively, Petronas Chemicals and IHH were flat at RM8.79 and RM6.78 respectively while CIMB was three sen easier at RM5.38.
Of the actives, SMTRack and WZ Satu were one sen better at 18.5 sen and 24.5 sen, Airasia warrant was 20.5 sen up at 21 sen, NCT, Destini and KNM were flat at 51.5 sen, 18 sen and 15 sen respectively.
On the index board, the FBM Emas Shariah Index fell 4.48 points to 12,075.63 and the FBM ACE lost 13.09 points to 6,380.57, the FBM Emas Index was 10.18 points lower at 11,179.87 and the FBMT 100 Index went down 9.90 points to 10,880.39.
However, the FBM 70 advanced 9.55 points to 14,246.49.
Sector-wise, the Industrial Products and Services Index inched up 0.14 of-a-point to 201.74, while the Plantation Index lost 11.38 points to 6,577.10, while the Financial Services Index erased 28.36 points to 15,484.17. ― Bernama
