Bursa Malaysia opens lower in line with overnight losses in US stocks

28 Jan 2020 / 10:11 H.

KUALA LUMPUR: Bursa Malaysia opened lower today, as traders took cues from overnight losses in US stock market amid growing worries on the Wuhan Coronavirus outbreak.

At 9.18am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.48% lower or down 23.31 points to 1,549.50 from Friday’s close of 1,572.63, after opening 14.24 points weaker at 1,558.57.

The overall market breadth on Bursa Malaysia was negative with losers edging gainers 569 to 95, while 131 counters remained unchanged, 1,182 untraded and 21 others suspended.

Turnover amounted to 573.78 million shares worth RM326.63 million.

In a note, PublicInvest Research Daily said the Wall Street’s three indices registered their worst daily losses in months, amid heightened concerns about the economic impact from the coronavirus which was first detected in Wuhan, China.

The fast-spreading virus has claimed more than 80 lives and infected more than 2,000 people in several countries, primarily in China.

The Dow Jones Industrial Average slid 453.93 points to 28,535.80, the S&P 500 index slid 51.84 points to 3,243.63 and the Nasdaq Composite Index shed 175.60 points to reach 9,139.31.

On Bursa Malaysia, almost all heavyweights were in the red, while healthcare stocks bucked the trend with Hartalega up 32 sen to RM6.35, Top Glove rose 52 sen to RM6.06 and IHH was flat at RM5.79.

Other heavyweights, Maybank lost four sen to RM8.49, Public Bank declined 30 sen to RM18.88 and Tenaga was 34 sen lower at RM12.54.

Rubber gloves manufacturers Careplus and Supermax were among the most actively traded stocks today, up 12 sen to 35.5 sen and 21 sen higher at RM1.82, respectively.

On the index board, the FBM Emas Index decreased 172.54 points to 11,074.12, the FBM Emas Shariah Index fell 181.38 points to 11,786.76, the FBMT 100 Index lost 166.18 points to 10,866.15, the FBM 70 was 225.17 points weaker at 13,997.06, and the FBM Ace decreased 44.25 points to 5,636.15.

Sector-wise, the Industrial Products and Services Index inched down 3.34 point to 148.61, the Financial Services Index was 189.29 points lower at 14,913.78 and the Plantation Index lost 144.05 points to 7,280.70. — Bernama

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