At 9.25am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.14 points to 1,528.19 from 1,530.33 at yesterday's close after opening 0.89 of-a-point easier at 1,529.44. — Bernama pic
At 9.25am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.14 points to 1,528.19 from 1,530.33 at yesterday's close after opening 0.89 of-a-point easier at 1,529.44. — Bernama pic

KUALA LUMPUR, Jan 20 ― Bursa Malaysia opened mixed in early trade today, with the key index falling slightly by 0.14 per cent, weighed down by CIMB and Maybank.

At 9.25am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.14 points to 1,528.19 from 1,530.33 at yesterday's close after opening 0.89 of-a-point easier at 1,529.44.

On the broader market, gainers surpassed losers 218 to 187, while 300 counters were unchanged, 1,545 untraded and 27 others suspended.

Turnover stood at 521.96 million units worth RM232.60 million.

Malacca Securities Sdn Bhd, in a research note, expects local sentiment to remain sour over the near term, especially on technology stocks following the choppy session on Wall Street overnight as investors continued to brace for inflation battles.

The brokerage added that market sentiment might stay volatile ahead of the US Federal Open Market Committee meeting next week.

“On the other hand, commodity prices remained strong. Crude oil price traded above the US$88 per barrel mark, while crude palm oil price was firmer, driven by export growth expectations as the Indonesian government intends to limit its palm oil exports,” it added.

Following recent selloff, Malacca Securities said investors may find opportunities in banking stocks ahead of today’s Monetary Policy meeting while energy and plantation counters were expected to trade positively amid higher commodities prices.

Of the heavyweights, CIMB fell eight sen to RM5.25, Maybank and RHB Bank both shed four sen to RM8.28 and RM5.72, respectively, Axiata eased three sen to RM3.74, and Top Glove slipped two sen to RM2.22.

Petronas Chemicals advanced five sen to RM9.03, IHH Healthcare, TNB and Press Metal rose two sen each to RM6.58, RM9.09 and RM5.90, while Public Bank and Hong Leong Bank were flat at RM4.18 and RM19.50, respectively.

Of the actives, Ace market debutant Coraza Integrated jumped 41.5 sen to 69.5 sen, Dagang NeXchange added two sen to 93 sen, Artroniq increased 3.5 sen to 61 sen, while Impiana Hotels was flat at five sen, and Ageson eased one sen to 2.5 sen.

On the index board, the FBM Emas Shariah Index rose 9.73 points to 11,678.82, the FBM 70 bagged 10.08 points to 13,498.87, the FBM Emas Index was 8.52 points weaker at 10,966.10, the FBMT 100 Index dipped 9.83 points to 10,675.85, and the FBM ACE widened 26.90 points to 6,118.46.

Sector-wise, the Industrial Products and Services Index up 0.59 of-a-point to 199.64, the Financial Services Index contracted 67.72 points to 15,776.89, and the Plantation Index gave up 6.34 points for 6,664.58. ― Bernama