KUALA LUMPUR, Oct 7 ― Bursa Malaysia opened marginally higher today but eased within minutes of trading due to cautious sentiments ahead of the tabling of Budget 2023 later today, a dealer said.
At 10.13am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.63 points to 1,412.80 from yesterday's close of 1,420.43.
The benchmark index opened 1.36 points better at 1,421.79.
On the broader market, losers surpassed gainers 322 to 188, while 291 counters were unchanged, 1,546 untraded and seven others suspended.
Turnover stood at 701.26 million units worth RM331.42 million.
In a research note, Malacca Securities Sdn Bhd said it expects global markets to remain volatile, while investors on the local front may trade cautiously ahead of the tabling of Budget 2023 later today.
“The FBM KLCI booked marginal losses as investors took profit in the final hour yesterday. Meanwhile, the Wall Street has reversed its course after being on an uptrend for a few days,” it said.
On commodities, the brokerage said crude oil price climbed to above US$94 as investors mulled over the Organisation of the Petroleum Exporting Countries and its allies (Opec+) decision to cut production, while the crude palm oil price hovered above RM3,750.
It was reported that Malaysia will cut its daily crude oil output by 27,000 barrels to 567,000 barrels in accordance with Opec+’s planned collective production reduction of two million barrels a day.
Meanwhile, Bursa heavyweights Maybank and IHH Healthcare fell four sen each to RM8.63 and RM5.77, respectively, and Petronas Chemicals eased two sen to RM8.62, while Public Bank added two sen to RM4.27 and CIMB advanced three sen to RM5.29.
Of the actives, Vinvest edged up half-a-sen to 18.5 sen, Top Glove trimmed half-a-sen to 67.5 sen, Citaglobal shed 1.5 sen to 27.5 sen, while MMAG Holdings and Serba Dinamik were flat at 2.5 sen and two sen, respectively.
On the index board, the FBM Emas Index declined 41.61 points to 10,091.98, the FBM 70 weakened 9.15 points to 12,299.72, the FBMT 100 Index dropped 42.22 points to 9,843.78, the FBM Emas Shariah Index trimmed 66.51 points to 10,130.62 and the FBM ACE slipped 27.45 points to 4,716.21.
Sector-wise, the Financial Services Index was 47.06 points lower at 16,073.96, the Industrial Products and Services Index eased 0.57 of-a-point to 174.15, the Plantation Index edged down 33.50 points to 6,528.64 and the Energy Index reduced 3.99 points to 694.31. ― Bernama
