Bursa opens lower, KLCI sinks further below 1,400 mark

Bursa opens lower, KLCI sinks further below 1,400 mark
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KUALA LUMPUR (Sept 30): Bursa Malaysia opened on a negative note on Friday (Sept 30) morning, in tandem with key regional markets, taking its cue from Wall Street’s performance overnight.

At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 6.09 points to 1,391.41 from Thursday's close of 1,397.5, after opening 2.21 points easier at 1,395.29.

The market breadth was negative with decliners outpacing advancers 233 to 64, while 180 counters were unchanged, 1,906 untraded and 37 others suspended.

Turnover stood at 99 million units worth RM43.49 million.

Malacca Securities Sdn Bhd said the local sentiment may remain fragile as investors adopt a wait-and-see approach amidst rising macroeconomic pressures.

“Nevertheless, we expect mild buying support in index heavyweights due to window-dressing activities,” the brokerage said in a research note on Friday.

Among the heavyweights, Public Bank Bhd was flat at RM4.20 while Petronas Chemicals Group Bhd was unchanged at RM8.39, Malayan Banking Bhd (Maybank) fell three sen to RM8.53, CIMB Group Holdings Bhd slipped six sen to RM5.09, IHH Healthcare Bhd went down five sen to RM5.87, and Tenaga Nasional Bhd (TNB) decreased seven sen to RM8.18.

Of the actives, XL Holdings Bhd edged up half-a-sen to 68.5 sen, Green Ocean Corp Bhd was flat at one sen while Kejuruteraan Asastera Bhd was unchanged at 45.5 sen. Bina Puri Holdings Bhd inched down half-a-sen to three sen, and PT Resources Holdings Bhd, too, dipped half-a-sen to 43 sen.

Meanwhile, Top Glove Corp Bhd eased one sen to 57.5 sen, and Cnergenz Bhd, too, slipped one sen to RM1.03.

On the index board, the FBM Emas Index narrowed 41.68 points to 9,939.76, the FBM 70 slipped by 50.39 points to 12,105.19, and the FBMT 100 Index gave up 41.96 points to 9,693.15.   

The FBM Emas Shariah Index trimmed 45.12 points to 9,996.73, while the FBM ACE contracted 28.46 points to 4,631.59.    

Sector-wise, the Energy Index eased by 2.99 points to 668.51, the Plantation Index went down 10.29 points to 6,494.21, the Financial Services Index declined 60.1 points to 15,822.24, and the Industrial Products and Services Index eased 0.53 of-a-point to 169.44.