Bursa opens lower amid mixed regional performance

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the mixed performance of regional peers despite overnight gains on Wall Street, dealers said.

At 9.12am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.33 points weaker at 1,793.31 from Thursday’s close of 1,798.64, after opening 2.73 points lower today at 1,795.91.

However, on the broader market, gainers led losers by 127 to 92, with 196 unchanged, 1,507 untraded and 91 others suspended.

Volume stood at 139.02 million units valued at RM58.54 million.

A dealer said Asian shares opened mixed despite the rebound on Wall Street, lifted by gains in technology stocks and after the Federal Reserve’s statement signalled a healthy US economy.

On the local front, Kenanga Research said technically, the underlying uptrend on Bursa Malaysia remains intact.

“However, we note that the index indicated some near-term retracement.

“We expect the index to hold at support levels 1,790 and 1,765, and resistances can then be found at 1,825 and 1,865,” it added.

Of heavyweights, Maybank rose eight sen to RM9.62, CIMB Group added one sen to RM6.04, Public Bank fell 12 sen to RM24.88, Tenaga slid two sen to RM15.50, while Petronas Chemicals was flat at RM9.38.

For actives, VS Industry warrant added 1.5 sen to 38 sen, Orion IXL edged up half-a-sen to nine sen, Borneo Oil eased half-a-sen to 5.5 sen, while Globaltec and Sapura Energy were flat at 4.5 sen and 42.5 sen respectively.

The FBM Ace Index was up 15.40 points at 5,259.65, the FBM 70 rose 33.59 points to 14,481.20 and the FBM Emas Shariah Index gained 4.34 points to 12,706.14.

The FBM Emas Index was down 18.62 points at 12,528.53 and the FBMT 100 Index reduced 21.30 points to 12,331.38

Sector-wise, the Finance Index fell 92.03 points to 17,721.34 and the Industrial Products and Services Index eased 0.02 point to 177.51, but the Plantation Index edged up 0.66 point to 7,563.92.