Slow buying momentum dampens Bursa Malaysia at opening
KUALA LUMPUR: Bursa Malaysia opened lower today in slow trading which was dampened by the easier global stock markets, a dealer said.
At 9.01am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 1.09 points to 1,771.85 from yesterday's close of 1,772.94.
The benchmark index opened 0.19 point easier at 1,772.75.
On the broader market, gainers outpaced losers by 105 to 77 with 154 counters unchanged, 1,503 untraded and 38 others were suspended.
The dealer said the Asian markets, including Bursa Malaysia, were lower tracking the overnight losses on Wall Street.
He said the market was expected to see further slide as investors turned cautious ahead of the central bankers' meeting in the US and its plan to impose new sanctions against China and Russia over their entities' links to North Korea.
Yesterday, AMMB declined 2.34% and this dragged down the index after the bank's merger plan with RHB Bank failed to take off, he said.
"And today the market will also focus on this stock as Australia and New Zealand Banking Group Ltd's plan to sell its stake in AMMB to Retirement Fund Inc's (KWAP) was cancelled as KWAP was only keen in the merged entity," the dealer said.
Among the heavyweights, Maybank and Public Bank fell two sen each to RM9.56 and RM20.54, respectively, Tenaga was flat at RM14.26, while Sime Darby rose two sen to RM9.32.
Among actives, JAG inched up half-a-sen to 15 sen, Compugates and APFT were both flat at three sen, respectively, but Kinsteel down by half-a-sen to four sen.
The FBM Emas Index fell 0.81 of-a-point to 12,619. 74 and the FBMT 100 Index eased 3.43 points to 12,273.43.
The FBM Emas Syariah Index added 6.681 points to 12,801.11, FBM Ace increased 6.11 points to 6,587.46 and FBM 70 was 11.33 points higher at 15,052.91.
Sector-wise, the Finance Index declined 27.71 points to 16,703.78 and the Industrial Index edged down 2.84 points to 3,236.34.
The Plantation Index added 4.06 points to 7,835.36.
The physical price of gold as at 9.30am stood at RM171.46 per gramme, up 24 sen from RM171.22 at 5pm yesterday. — Bernama