Bursa remains on downtrend

KUALA LUMPUR: Shares on Bursa Malaysia remained on a downtrend today and in line with global peers, dealers said.

At 9.04am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.56 points to 1,683.71 from Wednesday’s close of 1,688.27.

The index opened 4.92 weaker at 1,683.35.

On the broader market, losers were slightly higher than gainers at 100 to 60, with 119 counters unchanged, 1,590 untraded and 23 others suspended.

Volume stood at 115.82 million units valued at RM34.17 million.

A dealer said the local bourse is expected to weaken further as investors focus on the Organisation of the Petroleum Exporting Countries meeting, scheduled for today.

“Among the topics to be highlighted is the crude oil output policy, and this will provide some clues to global markets, including Malaysia, since we are an oil producing country,” he said.

The benchmark Brent crude fell 0.84 per cent to US$61.56 per barrel.

Among other actives, Tatt Giap rose half-a-sen to 1.5 sen, Astro increased nine sen to RM1.38, Techbond added 2.5 sen to 88.5 sen and Bumi Armada was half-a-sen better at 16 sen.

The FBM Emas Shariah Index declined 32.87 points to 11,653.01, the FBM 70 dropped 16.28 points at 13,549.76 and FBM Ace Index was 0.94 of-a-point weaker at 4,742.88.

The FBM Emas Index eased 27.58 points to 11,626.13 and the FBMT 100 Index depreciated 27.12 points to 11,501.82.

Sector-wise, the Plantation Index slid 79.52 points to 6,825.80 and the Financial Services Index slipped 5.08 points to 17,452.73.But, the Industrial Products and Services Index was 0.79 of-a-point better at 170.66.