KL shares fall on profit-taking

KUALA LUMPUR: Shares on Bursa Malaysia opened higher but declined thereafter on profit-taking, following yesterday's gains.
At 9.18am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.23 points lower at 1,828.9 from yesterday's 1,836.13, after opening 2.92 higher at 1,839.05.
Market breadth was negative with 319 losers against 118 gainers, while 208 counters were unchanged, 1,225 untraded and 33 others suspended.
Volume stood at 248.63 million units valued at RM90.56 million.
In a note, Kenanga Research said despite yesterday's positive move, the benchmark index's technical outlook remained bearishly biased for now with indicators pointing towards a downtrend.
"From here, we see an immediate resistance at around the 1,840 mark, with a higher resistance set at 1,880, while supports can be identified at 1,800 and 1,770," it added.
Among heavyweights, Maybank fell six sen to RM10.42, Public Bank was flat at RM23.94 and Tenaga eased two sen to RM15.80.
For actives, UMW O&G was unchanged at 23.5 sen, while both Borneo Oil and Diversified Gateway eased one sen each to 6.5 sen.
The FBM Emas Index was 47.56 points lower at 12,730.57, the FBMT 100 Index was 44.92 points weaker at 12,574.01 and the FBM Emas Syariah Index declined 26.72 points to 12,860.23.
The FBM 70 fell 37.72 points to 15,141.96 and the FBM Ace decreased 55.73 points to 4,963.46.
Sector-wise, the Finance Index fell 104.84 points to 17,915.49, the Industrial Index was 6.36 points lower at 3,192.79 and the Plantation Index lost 10.14 points to 7,925.98.
The physical price of gold as at 9.30am stood at RM160.29 per gramme, up 83 sen from RM159.46 at 5pm yesterday. — Bernama