Bursa opens lower

In line with regional markets, investors show little appetite for Bursa Malaysia-listed stocks. — File pic
In line with regional markets, investors show little appetite for Bursa Malaysia-listed stocks. — File pic

KUALA LUMPUR, April 25 — Bursa Malaysia opened lower this morning in tracking the weaker performance of regional bourses and amid continued concerns over rising US bond yields.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,862.71, down 2.63 points from yesterday’s 1,865.34.

The index opened 1.86 points easier at 1,863.48.

On the broader market, losers led gainers 218 against 55, while 114 counters were unchanged, 1,525 untraded and 30 others suspended.

Volume stood at 102.29 million units valued at RM38.55 million.

Maybank IB Research said the FBM KLCI fell for the third consecutive day yesterday in plunging 15.02 points to 1,865.34, spooked by rising US yields.

“The weaker overnight performance of US markets, could continue to weigh down domestic sentiment, as well as the current lack of catalysts to boost investors’ appetite.

“Technically, we expect the FBM KLCI to trade between 1,850 and 1,880 today. Downside supports are 1,857 and 1,833,” it added.

Among heavyweights, Maybank fell four sen to RM10.58, CIMB eased one sen to RM7.21, Public Bank bagged two sen to RM24.12, while Tenaga and Petronas Chemicals were flat at RM15.88 and RM8.49 respectively.

For actives, Sapura Energy shed 2.5 sen to 68 sen, Hibiscus fell 3.5 sen to 79 sen, Hibiscus warrant slid two sen to 37.5 sen, while Xinghe and Globaltec eased half-a-sen each to five sen and 4.5 sen respectively.

The FBM Emas Index was 39.86 points lower at 12,934.55, the FBMT 100 Index fell 36.88 points to 12,753.71 and the FBM Emas Shariah Index slipped 49.64 points to 13,082.06.

The FBM 70 dropped 101.13 points to 15,185.11 and the FBM Ace eased 27.48 points for 5,294.98.

Sectorwise, the Industrial Index gained 3.21 points to 3,215.0 and the Plantation Index improved 0.06 of a point to 7,992.02 while the Finance Index slipped 36.03 points to 18,269.01. — Bernama

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