Bursa opens flat

KUALA LUMPUR: Bursa Malaysia opened almost flat today as investors took a cautious stand ahead of today’s 2018 gross domestic product data release and the start of the new round of US-China trade talks, dealers said.

At 9.25am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,684.48, down 0.82 of-a-point from Wednesday’s close of 1,685.3.

The index opened 0.81 of-a-point easier at 1,687.73.

A dealer said cautious optimism over the US’ deadline extension on raising China import tariffs as well as better GDP should aid further recovery in market sentiment.

“Immediate support for the index stays at 1,680 while immediate resistance will be the recent high of 1,705,” he said.

Among heavyweights, Maybank and Petronas Chemicals eased two sen each to RM9.53 and RM8.46 respectively and Public Bank fell six sen to RM24.90.

TNB and CIMB were flat at RM13.06 and RM5.78 respectively.

Of the actives, KNM added 1.5 sen to 10.5 sen, Seacera gained two sen to 33 sen and Dayang climbed three sen to 80 sen.

Dagang slipped half-a-sen to 32 sen while Bumi Armada was flat at 22.5 sen.

The FBM Emas Index increased 3.391 points to 11,717.69 and the FBM Emas Shariah Index went up 12.31 points to 11,589.51 while the FBMT 100 erased 0.511 of-a-point to 11,577.89.

The FBM Ace Index was 0.49 of-a-point lower at 4,646.83 but the FBM 70 rose 20.42 points to 13,964.64.

Sector-wise, the Financial Services Index was down 16.689 points to 17,712.96 and the Plantation Index edged-down 12.91 points to 7,285.6 while the Industrial Products and Services Index was 0.07 of-a-point higher at 162.54.

Market breadth was positive with gainers outpacing losers 191 to 147, while 223 counters were unchanged, 1,292 untraded and 35 others suspended.

Turnover was at 378.52 million shares worth RM133.3 million.