Bursa Malaysia continues to trend weak

KUALA LUMPUR: Bursa Malaysia continued to trend weak from yesterday in early trade today as the local bourse sought to consolidate, dealers said.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.83 points lower at 1,679.23, against yesterday's close of 1,682.06.
It opened 2.26 points weaker at 1,679.80.
A dealer said profit-taking on recent strong gains in small caps and penny stocks also dominated trading.
"Immediate support stays at the 30-day moving average (ma) at 1,671, with the 100 and 200-day ma at 1,664/65 providing stronger support cushions.
Resistance will be from the 1,700 psychological level, with tougher resistance from the April high of 1,729," he added.
The FBM Emas Index eased 27.67 points to 11,769.83, the FBMT 100 Index declined 28.199 points to 11,480.86, and the FBM Emas Syariah Index slid 26.04 points to 12,404.52.
The FBM 70 fell 65.41 points to 13,509.8 and the FBM Ace was 13.51 points lower at 5,404.39.
Sector-wise, the Finance Index eased 27.729 points to 14,432.98 and the Plantation Index declined 20.77 points to 7,819.99, while the Industrial Index improved 3.21 points to 3,146.91.
Losers led gainers 154 to 88, while 152 counters were unchanged, 1,706 untraded and 17 others suspended.
Turnover stood at 122.02 million shares worth RM32.91 million.
Among heavyweights, TNB was flat at RM14.74, while Maybank earned one sen to RM8 and IHH gained two sen to RM6.64.
Public Bank lost two sen to RM19.74 and Petronas Chemicals fell nine sen to RM6.59.
Of the actives, APFT , M3 Technologies and Borneo Oil slipped half a sen each to five sen, 7.5 sen and 18 sen respectively.
TH Heavy Engineering and AirAsia X were flat at 17.5 sen and 41.5 sen respectively.
The physical price of gold as at 9.30am stood at RM166.07 per gramme, down RM1.86 from RM167.93 at 5pm yesterday.— Bernama