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BURSA MALAYSIA: KL Shares Open Higher But Retreats Thereafter

KUALA LUMPUR: Share prices on Bursa Malaysia opened higher this morning but retreated thereafter on lack of follow-through buying support, dealers said.

At 9.20 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.18 points lower at 1,623.66 after opening 4.17 points stronger at 1,630.01.

It closed 9.05 points lower at 1,625.84 on Tuesday.

A dealer said the index barometer could likely drift sideways today with support seen at the 1,620 points level as the overnight rally in global markets may not be sufficient to lift local market sentiment that has come under foreign selling pressure lately.

On the scoreboard, the FBM Emas Index lost 19.5 points to 11,374.71, the FBMT100 Index eased 21.3 points to 11,062.58 and the FBM Emas Shariah Index fell 14.851 points to 11,914.55.

The FBM 70 decreased 47.82 points to 12,877.46 and the FBM Ace was 10.56 points lower at 5,566.84.

Sector-wise, the Finance Index trimmed 16.94 points to 14,171.14, the Industrial Index shed 9.65 points to 3,055.32 but the Plantation Index rose 16.57 points to 7,470.04.

Market breadth was negative with losers edging gainers 187to 138 while 197 counters were unchanged, 1,221 untraded and 14 others were suspended.

Turnover stood at 263.01 million shares worth RM149.14 million.

Among heavyweights, Maybank eased six sen to RM8.25, TNB added two sen to RM14.04 and Public Bank gained six sen to RM19.24.

Of actives, AirAsia X was flat at 40 sen, Vsolar added half-a-sen to 10.5 sen and Hiap Teck Venture lost 9.5 sen to 26.5 sen.

— BERNAMA

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