Bursa Malaysia opens lower

KUALA LUMPUR: Bursa Malaysia opened easier today in line with regional markets affected by lower oil prices due to a global glut, dealers said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.67 of-a-point weaker at 1,673.25, against yesterday's close of 1,673.92.
The index opened 0.03 of-a-point slightly higher at 1,673.95.
However, market breadth was positive as gainers led losers 107 to 58, while 160 counters were unchanged, 1,366 untraded and 80 others suspended.
Turnover stood at 98.54 million shares worth RM24.58 million.
The benchmark Brent Crude was down 1.3% to US$47.80 per barrel.
A dealer said the performance of the local bourse was also in tandem with the weaker overnight performance of Wall Street.
Public Investment Bank said in a note that is expects the FBM KLCI to continue to trend sideways today, after global equities ended mostly lower, as another batch of poorly received US corporate earnings and a volatile session for oil prices weighed down market sentiment.
The FBM Emas Index was down 4.87 points to 11,799.45, the FBM Emas Syariah Index rose 12.19 points to 12,419.43, and the FBMT 100 Index was 5.05 points easier at 11,500.23.
The FBM 70 fell 7.72 points to 13,752.14 as the FBM Ace improved 8.75 points to 5,144.00.
The Plantation Index rose 19.40 points to 7,976.73, the Industrial Index declined 2.78 points to 3,150.73 and the Finance Index improved 13.38 points to 14,554.02.
Of the heavyweights, TNB and Petronas Chemicals gained two sen each to RM14.34 and RM7.00 respectively, Maybank increased one sen to RM7.93, Public Bank was flat at RM19.80, while Sime Darby fell 12 sen to RM7.98.
Of the gainer counters, Nestle firmed 56 sen to RM78.96, Hong Leong Industries bagged 28 sen to RM9.40, Petronas Dagangan rose 18 sen to RM23.44 and KL Kepong increased 14 sen to RM24.34.
The physical price of gold as at 9.30am stood at RM164.46 per gramme, down 39 sen from RM164.85 at 5pm yesterday. — Bernama