Bursa Malaysia continues downtrend in early trade

KUALA LUMPUR: Bursa Malaysia opened lower today, extending their downtrend following yesterday’s fall.

At 9.09 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.84 points to 1,559.87 from Monday’s close of 1,562.71.

The barometer index opened 1.24 points lower at 1,561.47.

A dealer said yesterday’s persistent foreign selling on selected blue-chip heavyweights continued to weigh on the market today, decoupling the local bourse from the positive performance on many overseas bourses.

“Crucial support for the index is at the October 10 pivot low of 1,548 while overhead index resistance stays at the 50-day moving average now at 1,580,” he said.

Among heavyweights, Maybank and Petronas Chemicals lost three sen each to RM8.53 and RM7.02 respectively, Public Bank eased four sen to RM18.98 and CIMB erased five sen to RM5.13.

TNB added four sen to RM13.26.

Of actives, K-Star and Xidelang added half-a-sen each to 7.5 sen and 10.5 sen respectively, TDM and Jaks Resources gained two sen each to 32.5 sen and RM1.32 respectively and Hiap Teck improved three sen to 23.5 sen.

The FBM Emas Shariah Index lost 9.521 points to 11,690.38, the FBM Emas Index erased 10.4 points to 11,098.84 and the FBMT 100 Index decreased 12.689 points to 10,897.58.

The FBM 70 increased 13.16 points to 13,868.44 and the FBM Ace rose 7.78 points to 4,894.35.

Sector-wise, the Plantation Index went up 7.98 points to 7,503.25 and the Industrial Products and Services Index inched up 0.01 of-a-point to 149.9 while the Financial Services Index erased 27.5 points to 15,176.07.

On the broader market, there were 159 gainers and 129 losers, while 196 counters were unchanged, 1,488 untraded and 18 others suspended.

Turnover amounted to 226.07 million shares worth RM71.04 million. -Bernama