Bursa Malaysia Pares Yesterday's Gains To Open Lower
By Danni Haizal Danial Donald
KUALA LUMPUR, July 7 (Bernama) -- Bursa Malaysia pared yesterday's gains to open lower on Tuesday, as early selling pressure weighed on market sentiment.
At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index slipped 4.01 points or 0.24 per cent to 1,679.52 from Monday’s close of 1,683.53.
The index opened 0.11 of a point lower at 1,683.42.
Market breadth was slightly negative, with decliners outpacing gainers 157 to 130, while 290 counters were unchanged, 2,074 untraded, and 12 suspended.
Turnover amounted to 163.91 million shares worth RM54.48 million.
Rakuten Trade Sdn Bhd head of research Kenny Yee said the market undertone remained cautious today, despite yesterday’s firmer closing.
“We reckon market participants may have an eye on the impending state election in Johor this weekend.
“Nonetheless, we are still adamant that the local bourse is ripe for some stock accumulation at prevailing levels. As such, we expect the index to trend within the 1,680-1,695 range today,” he told Bernama.
Among heavyweights, Maybank slipped four sen to RM10.90, Public Bank eased one sen to RM4.90, Tenaga Nasional slid two sen to RM14.28, IHH Healthcare fell seven sen to RM8.26, while CIMB was flat at RM7.61.
On the most active list, ACE debutant RNG Tech and Pemaju Industries were unchanged at 13 sen and one sen, respectively. Asdion was 1.5 sen lower at half-a-sen, while WCT gained half-a-sen to 43 sen, and Efficient E-Solutions added 1.5 sen to 11.5 sen.
Top gainers included Malaysian Pacific Industries, which added 14 sen to RM45.96; Allianz Malaysia and LPI Capital each increased 10 sen to RM21.20 and RM15, respectively; Lysaght Galvanized Steel grew six sen to RM2.45, and Teck Guan Perdana inched up five sen to RM1.85.
Of the top losers, Nestle decreased 60 sen to RM90.16, United Plantations slipped 20 sen to RM33.30, Hong Leong Bank lost eight sen to RM21.72, and Telekom Malaysia eased seven sen to RM7.46.
On the index board, the FBM Emas Index dropped 28.67 points to 12,444.05, the FBMT 100 Index fell 29.51 points to 12,272.13, the FBM Emas Shariah Index declined 30.66 points to 12,256.96 and the FBM ACE Index inched down 5.81 points to 4,887.06, while the FBM 70 Index erased 43.68 points to 17,761.96.
By sector, the Financial Services Index tumbled 31.37 points to 19,903.05, the Plantation Index retreated 5.31 points to 9,002.48, the Industrial Products and Services Index eased 0.23 point to 181.13, while the Energy Index advanced 0.34 point to 759.83.
-- BERNAMA