KUALA LUMPUR, Oct 19 — Bursa Malaysia opened lower today despite the overnight rise on most global markets and improved oil prices, a dealer said.
At 9.18am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.22 points marginally lower at 1,666.35, against yesterday’s close of 1,667.57.
The index opened 0.9 of-a-point lower at 1,667.25.
Gainers trounced losers 161 to 129, while 216 counters were unchanged, 1,153 untraded and 20 others suspended.
Turnover stood at 111.37 million shares worth RM55.72 million.
The surge in global oil prices did not lend much support to the local market in the early session as the market is anxiously awaiting economic data, due today from China.
AllianceDBS Research in a note said given yesterday’s performance, a high probability of buying opportunity to profit from the market was created.
“This also gave a good chance for risk taking market participants to establish stock positions.
“An analysis of overall market action yesterday revealed that buying power was stronger than selling pressure. As such, the FBM KLCI would likely trade above the 1,667.57 level today,” it added.
Of the heavyweights, Maybank inched down one sen to RM7.70, Public Bank, Petronas, IHH and TNB all stayed pegged at RM19.76, RM6.81, RM6.43 and RM14.40 respectively.
Of the losers, Fraser & Neave declined 20 sen to RM24.24, AEON Credit shed 12 sen to RM14.50, Hong Leong Financial declined eight sen to RM15.62, Axiata fell seven sen to RM5.15, Hong Leong contracted six sen to RM13.18 and Gamuda was down five sen to RM4.86.
The FBM Emas Index lost 8.41 points to 11,795.83, the FBM Emas Shariah Index eased 13.61 points to 12,440.44 and the FBMT 100 Index was 8.76 points lower at 11,494.27. The FBM 70 slid 11.76 points to 13,895.04.
However, the FBM Ace improved 13.40 points to 5,169.32.
The Plantation Index shrank 6.47 points for 7,934.39, but the Industrial Index increased 2.61 points to 3,132.15 and the Finance Index fell 11.56 points to 14,344.20. — Bernama