KUALA LUMPUR, Nov 10 ― Bursa Malaysia opened lower today on lack of buying support for local stocks coupled with the weaker overnight performance on Wall Street due to uncertainties over US tax reforms.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.42 of-a-point lower at 1,746.39 from yesterday's close of 1,746.81.
The key index opened 0.28 of-a-point easier at 1,746.53.
President of the Malaysian Association of Technical Analysts Nik Ihsan Raja Abdullah said the US Senate Republican plan to cut corporate tax should be good for global equity markets especially for industrial-related stocks.
He, however, said with the plans to be delayed from the proposed schedule, there were likely to be some disappointment among investors.
Top loser, Petronas Dagangan fell 32 sen to RM21.12, MISC lost 13 sen to RM7.32 and Lafarge Malaysia gave up 12 sen to RM6.63.
Among heavyweights, Maybank deducted three sen to RM9.13, Public Bank fell two sen to RM20.44, Tenaga and Sime Darby were flat at RM14.90 and RM9.06, respectively, Petronas Chemicals added three sen to RM7.43 and CIMB gained two sen to RM6.23.
Market breadth was positive with gainers leading decliners 114 to 98 while 210 counters were unchanged, 1,402 untraded and 20 others were suspended.
Turnover stood at 144.93 million shares worth RM45.10 million.
On the scoreboard, the FBM Emas Index rose 3.93 points to 12,602.39 points, the FBMT100 Index increased 0.47 of-a-point to 12,237.05 points and the FBM Emas Shariah Index added 8.35 points to 13,044.45 points.
The FBM 70 rose 13.23 points for 15,533.53 points, the Industrial Index gained 2.41 points to 3,209.51 points while the FBM Ace improved 2.01 points to 6,844.17 points.
The Finance Index advanced 2.59 points to 16,242.86 points and the Plantation Index fell 2.46 points to 8,021.33 points. ― Bernama