KUALA LUMPUR (Nov 13): Bursa Malaysia opened lower today as investors took the cue from the overnight losses on Wall Street, with mild profit-taking spotted in the heavyweights.

At 9.09am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) fell 16.17 points to 1,574.61 after opening 2.4 points easier at 1,588.38.

Losers thumped gainers 272 losers to 243, while 355 counters were unchanged, 1,300 untraded and 26 others suspended.

Total volume stood at 1.03 billion worth RM289.46 million.

Malacca Securities Sdn Bhd said investors would shift their focus on the third quarter 2020 gross domestic product (GDP) data, which might see the contraction to be milder against the prior quarter as economic activities resumed gradually.

“For now, we think that the key index is increasingly toppish and may warrant a pullback over the near term.

“The lower liners, meanwhile, remain supported by the liquidity-driven market as investors capitalise on the positive market sentiment,” it said in a note today.

Sector focus, the research house continues to favour the plantation sector, owing to the multi-year high crude palm oil prices that looks to remain elevated over the near term.

Against the backdrop of potential renewed volatility, the rebound in gold prices might also imprint fresh trading interest within gold-related stocks, it added.

Among the heavyweights, Maybank and Petronas Chemicals lost 10 sen each to RM7.70 and RM6.73, respectively, Public Bank contracted 28 sen to RM17.64, and Tenaga decreased 26 sen to RM11.22.

However, Top Glove rose six sen to R M7.76 and Hartalega gained four sen to RM15.40.

Of the actives, Xidelang slipped half-a-sen to nine sen, Metronic and AT Systematization inched up half-a-sen each to 13.5 sen and 22.5 sen, respectively, Salcon added 1.5 sen to 39.5 sen, and Netx earned one sen to 17.5 sen.

On the index board, the FBM Emas Index was 85.06 points lower at 11,320.28, the FBM Emas Shariah Index fell 71.93 points to 13,248.84 and the FBMT 100 Index lost 83.97 points to 11,119.02.

The FBM 70 increased 7.97 points to 14,595.57 and the FBM ACE bagged 18.98 points to 11,371.12.

Sector-wise, the Industrial Products and Services Index trimmed 0.45 of-a-point to 155.77, the Plantation Index declined 53.26 points to 7,1227.39 and the Financial Services Index fell 190.76 points to 13,391.85.