Bursa Malaysia opens lower, but rebounds thereafter

The main entrance of the Bursa Malaysia building. (Bernama pic)

KUALA LUMPUR: Bursa Malaysia opened marginally lower today, but rebounded minutes thereafter, on cautious market sentiment.

At 9.08 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.12 points firmer at 1,805.85 from Wednesday’s close of 1,804.73.

The index opened 1.19 points easier at 1,803.54.

On the broader market, gainers led losers 147 to 115 with 211 unchanged, 1,409 untraded and 32 others suspended.

Volume stood at 136.0 million units valued at RM85.14 million.

In a note today, Maybank Investment Bank Bhd said weakness in overnight US markets, the fall in crude oil prices, coupled with renewed concerns over trade tensions, weighed on sentiment today.

“Technically, we expect the FBM KLCI to trade between 1,770-point and 1,810-points today, while downside supports are at the 1,748-point and 1,710-points,” it added.

Of the heavyweights, Maybank rose two sen to RM9.92, Public Bank and Tenaga increased 10 sen each to RM24.42 and RM15.68 respectively, Petronas Chemicals added 12 sen to RM9.16, while CIMB was three sen easier at RM5.89,

Among actives, Radiant Globaltech advanced 1.5 sen to 40 sen, BCM Alliance and Vizione ticked up half-a-sen each to 20 sen and 14 sen respectively, while Sapura Energy lost half-a-sen to 59 sen and Sumatec was unchanged at four sen.

Of the top gainers, Far East and Ibraco improved 20 sen each to RM14.40 and 55.5 sen, Hong Leong Industries perked 12 sen to RM11.70, while Cahya Mata and Malaysian Pacific bagged each eight sen each to RM3.25 and RM11.30 respectively.

The FBM Emas Index strengthened 1.51 points to 12,770.98, the FBM Emas Shariah Index edged up 0.68 -of-a-point to 12,952.09 and the FBM Ace Index was 14.91 points better at 5,475.65.

The FBMT 100 Index fell 1.33 points to 12,548.91 and the FBM 70 declined 35.68 points to 15,596.53.

Sector-wise, the Finance Index garnered 1.22 points to 17,571.76, but the Plantation Index slid 4.12 points to 7,706.88 and the Industrial Index was down 6.40 points to 3,295.19.