KL shares open lower

KUALA LUMPUR, March 15 — Shares on Bursa Malaysia opened lower this morning in tracking Wall Street’s under performance, coupled with traders taking a risk aversion-stance, dealers said.

At 9.01am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,852.81, declining 4.25 points from 1,857.06 at yesterday's close.

The key index opened 2.94 points easier at 1,854.12.

Kenanga Research said in a note that outlook for the index remains seemingly directionless in the short-term as key indicators continue to be indecisive, coupled with tepid trading volumes.

Meanwhile, OANDA Head of Trading Asia-Pacific Stephen Innes said the risk-off continues to seep through markets as traders scramble to revise both inflation and US growth forecast in the wake of a tepid consumer price index and producer price index prints.

"Meanwhile, February's dreary US retail sales delivered more disappointment to the markets," he told Bernama.

On the local front, market breadth was negative with 150 losers against 57 gainers, while 148 counters were unchanged, 1,541untraded and 32 others suspended.

Turnover stood at 74.34 million shares worth RM18.14 million.

Among heavyweights, Maybank declined four sen to RM10.40, CIMB trimmed two sen to RM7.22 and Petronas Chemicals decreased six sen to RM8.04.

Meanwhile, Tenaga and IHH Healthcare rose two sen to RM15.66 and RM6.10 respectively, and Public Bank was flat at RM23.00.

Of the actives, Daya Materials and EA Holdings were flat at 3.5 sen and four sen, while Advance Synergy rose one sen to 16 sen and LNG Resources was up 1.5 sen to 19 sen.

Meanwhile, Sapura Energy trimmed one sen to 40 sen and YFG was 1.5 sen easier at half-a-sen.

The FBM Emas Index trimmed 32.37 points to 13,049.34, the FBMT 100 Index was 32.31 points lower at 12,798.34 and the FBM Emas Shariah Index declined 29.14 points to 13,209.5.

The FBM 70 decreased 50.68 points to 15,616.27, while the FBM Ace was 19.2 points stronger at 5,919.57.

Sectorwise, the Finance Index contracted 37.74 points to 18,128.01, the Industrial Index inched down 13.21 points to 3,245.26, as the Plantation Index increased 18.66 points to 8,075.08. — Bernama

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