Bursa Malaysa extends losses to open lower

KUALA LUMPUR: Bursa Malaysia extended losses from yesterday to open weaker this morning on emerging profit-taking in heavyweight counters, dealers said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 2.13 points to 1,668.80 from Tuesday's close of 1,670.93.

The index opened 1.12 points lower at 1,669.81.

On the broader market, losers led gainers 119 to 87, while 156 counters remained unchanged, with 1,294 untraded and 17 others suspended.

Turnover stood at 91.06 million shares worth RM44.71 million.

Public Investment Bank Bhd said the benchmark index might open lower today after an overnight fall in the dollar and equities, while investors moved into supposed havens like gold and the Swiss Franc.

Concerns over the outcome of the US Presidential election also counteracted some better economic data.

"Adding to the nervous start to the month was caution ahead of policy decisions mid-week from the US Federal Reserve and Bank of England, and Friday's US jobs report.

"The Federal Reserve is expected to eschew tightening policy after its November meeting concludes on Wednesday, preferring instead to check on the market reaction to next week's US presidential election," it said in a research note today.

The FBM Emas Index declined 8.42 points to 11,757.40, the FBMT100 Index slipped 8.34 points to 11,459.99, and the FBM Emas Syariah Index eased 1.33 points to 12,371.24.

The FBM 70 rose 12.71 points to 13,669.40 and the FBM Ace fell 2.41 points to 5,031.27.

Sector-wise, the Plantation Index was 11.34 points weaker at 7,841.30, the Finance Index shed 32.23 points to 14,502.62, while the Industrial Index improved 6.0 points to 3,155.75.

Of the heavyweights, TNB declined four sen to RM14.36, Maybank slipped two sen to RM7.84, Public Bank eased eight sen to RM19.92, while Petronas Chemicals was flat at RM6.98.

Of the actives, WCT jumped 11 sen to RM1.86, with Hibiscus Petroleum, YFG and Sumatec Resources all flat at 31.5 sen, three sen and six sen respectively.

The physical price of gold as at 9.30am stood at RM168.51 per gramme, up RM1.71 from RM166.80 at 5pm yesterday. — Bernama