.JPG "An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. u00e2u20acu2022 Picture by Hari Anggara")
KUALA LUMPUR, April 22 ― Bursa Malaysia opened higher, but retreated thereafter ahead of the release of Malaysia’s inflation data later today, keeping investors on the sidelines.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.22 points to 1,597.10 from yesterday’s close of 1,598.32.
The barometer index opened 0.25 of-a-point easier at 1,598.07.
On the broader market, losers surpassed gainers 245 versus 122, while 232 counters were unchanged, 1,702 untraded and 25 others suspended.
Total turnover stood at 141.88 million worth RM72.11 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the United States equities retreated as profit-taking activities emerged on the back of a higher 10-year yield, which inched above the 2.9 per cent mark, offsetting another batch of solid corporate earnings.
The Dow Jones Industrial Average lost 369 points while the Nasdaq declined by 278 points.
“However for today, we reckon the index may face some headwind as regional volatility heightens. Therefore, we anticipate the index to trend within the 1,590-1,605 range today,” he said.
Meanwhile, Thong said concerns about the supply side pushed crude oil prices higher again as Brent crude edged above US$108 per barrel.
Among the heavyweights, Maybank added two sen to RM8.90, Public Bank rose one sen to RM4.68, Petronas Chemicals increased eight sen to RM10.46, IHH Healthcare was flat at RM6.54, while Press Metal lost 13 sen to RM6.46.
Of the actives, Sapura Energy slid half-a-sen to four sen, while Pertama, KNM, Saudee and Widad were flat at 90.5 sen, 17 sen, 6.0 sen and 36.5 sen, respectively.
On the index board, FBMT 100 Index dropped 19.42 points to 11,104.22, FBM Emas Index was 22.27 points lower at 11,462.03, FBM Emas Shariah Index shrank 34.69 points to 12,099.79, FBM 70 edged down 68.68 points to 13,779.97, and FBM ACE fell 26.36 points to 5,777.13.
Sector-wise, the Industrial Products and Services Index slumped 0.76 of-a-point to 215.79 and the Plantation Index eased 8.84 points to 8,596.26, while the Financial Services Index expanded 4.95 points to 16,716.82. ― Bernama
