KUALA LUMPUR (Oct 29): Bursa Malaysia opened almost flat on Friday (Oct 29), ahead of the tabling of Budget 2022 later in the day.
At 9.05am, the benchmark FBM KLCI had eased 0.09 of a point to 1,566.77 from Thursday's close at 1,566.86. It opened 2.01 points higher at 1,568.87.
On the broader market, gainers edged past losers 174 to 169, while 273 counters were unchanged, 1,664 untraded and 46 others suspended.
Turnover amounted to 214.44 million units worth RM78.6 million.
In a research note, Rakuten Trade said it believes that the recent correction of the local bourse — which saw a 40-point decline — might attract some bargain hunting on Friday.
"Though sentiments are expected to remain cautious ahead of the Budget 2022 address later today (Friday), we anticipate the index to rebound to above the 1,570 level,” it said.
Among the heavyweights, Malayan Banking Bhd (Maybank) added one sen to RM8.12, Press Metal Aluminium Holdings Bhd and Maxis Bhd advanced seven sen each to RM5.53 and RM4.77 respectively, while Axiata Group Bhd was two sen higher at RM3.99.
Meanwhile, Public Bank Bhd and IHH Healthcare Bhd were flat at RM4.20 and RM6.52 respectively, Petronas Chemicals Group Bhd (PetChem) fell six sen to RM8.64 and CIMB Group Holdings Bhd eased one sen to RM5.24.
Of the actives, MMAG Holdings Bhd rose 1.5 sen to 11 sen, Kanger International Bhd, Benalec Holdings Bhd and PUC Bhd were flat at 4.5 sen, 15.5 sen and 13 sen respectively, PDZ Holdings Bhd trimmed nine sen to 14.5 sen, and Yong Tai Bhd and Hextar Global Bhd both inched down half a sen to 14 sen and 13 sen respectively.
On the index board, the FBM Emas Index increased 9.0 points to 11,585.51, the FBMT 100 Index appreciated 6.63 points to 11,217.44, the FBM 70 went up 37.42 points to 15,327.25, the FBM Emas Shariah Index widened 19.07 points to 12,608.55 and the FBM ACE expanded 36.78 points to 7,072.21.
Sector-wise, the Industrial Products and Services Index added 0.37 of a point to 206.01, the Plantation Index gained 0.62 of a point to 6,863.67 and the Financial Services Index shed 20.33 points to 15,666.40.