FBM KLCI opens lower

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened lower in line with the weaker performance on Wall Street overnight.

At 9.05am, the key index was 6.08 points lower at 1,821.34 after opening 3.21 points weaker at 1,824.21.

JF Apex Securities expects the FBM KLCI to consolidate today following the bearish performance in US and European markets.

It said the US markets declined steeply as investors focused in higher bond yields and mixed economic data including perceived lower first quarter economic growth.

Similarly, European stocks fell following renewed concerns over Greece, added JF Apex Securities in a research note.

There were 106 gainers and 87 losers with 108 counters unchanged, 1,492 untraded and 18 others were suspended.

Turnover was thin at 122.47 million shares worth RM35.51 million.

On the scoreboard, the FBM Emas Index fell 31.64 points to 12,557.76, FBMT100 Index decreased 35.69 points to 12,237.97 and FBM 70 went down 19.97 points to 13,622.83.

The FBM Emas Syariah Index eased 24.18 points to 13,087.09 and the FBM Ace depreciated 9.94 points to 6,967.22.

On a sectorial basis, the Plantation Index gained 1.28 points at 7,587.23 but the Finance Index slipped 57.01 points to 16,087.82 and the Industrial Index erased 6.76 points at 3,354.27.

Among heavyweights, Sime Darby was flat at RM9.12, Maybank eased seven sen to RM9.18, TNB trimmed six sen to RM14.22, Public Bank reduced eight sen to RM19.80 and Axiata was five sen lower at RM6.75.

Actively-traded stocks this morning included Kinsteel, which edged up half-a-sen to 20 sen, Perisai Petroleum added 1.5 sen to 56.5 sen while R&A Telecommunication fell 1.5 sen to 2.5 sen.
The physical price of gold as at 9.30am stood at RM133.42 per gramme, down 15 sen from RM133.57 yesterday. – Bernama