MARKET

BURSA MALAYSIA OPENS LOWER

02/04/2024 10:00 AM

KUALA LUMPUR, April 2 (Bernama) -- Bursa Malaysia opened lower following a mixed performance on Wall Street overnight. 

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.37 points easier at 1,541.65 compared with Monday’s close of 1,544.02. 

The benchmark index opened 0.49 of-a-point lower at 1,543.53.

On the broader market, losers marginally beat gainers 164 to 156 with 321 counters unchanged, 1,642 untraded, and 13 others suspended.

Turnover amounted to 205.78 million units worth RM74.99 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street kicked off the second quarter of the year on a mixed note as sentiment remained affected by the stronger-than-expected inflation data, rendering the US Federal Reserve in no hurry to cut rates.

He noted that the Dow Jones Industrial Average dropped 240 points, but the Nasdaq added 17 points as the US 10-year Treasury yield eased marginally to 4.317 per cent.

Back home, with the FBM KLCI closing broadly higher at almost the 1,545 mark yesterday, he said the recent continuous accumulation by local institutions is believed to be a good sign as this would only force the foreign funds to buy at higher levels when they return.

“As for the benchmark index, it needs to break through the 1,550 level decisively to sustain its second leg of uptrend. Hence we expect it to hover in the 1,545-1,555 range today.

“Meanwhile, the gold price has touched an all-time high at US$2,254 per troy ounce as traders began their shift from equities,” said Thong.

Among the heavyweights, Maybank, CIMB and Petronas Chemicals gained one sen each to RM9.72, RM6.67, and RM6.76 respectively, Public Bank and IHH Healthcare shed 1.0 sen each to RM4.23 and RM6.07 respectively, and Tenaga Nasional rose 4.0 sen to RM11.42.

As for the actives, Ahmad Zaki increased 4.0 sen to 26 sen, Widad Group fell half-a-sen to 8.0 sen, TWL and Zantat were flat at 3.0 sen 49 sen respectively, and Dagang Nexchange slid half-a-sen to 34 sen. 

On the index board, the FBM Emas Index was 13.26 points lower at 11,595.37, the FBMT 100 Index trimmed 14.36 points to 11,235.59, and the FBM Emas Shariah Index weakened 24.80 points to 11,656.09.

The FBM 70 Index eased 8.60 points to 16,167.15 but the FBM ACE Index improved 5.24 points to 4,907.32.

Sector-wise, the Financial Services Index rose 5.12 points to 17,340.41, the Industrial Products and Services Index edged up 0.01 of-a-point to 180.06, and the Energy Index added 3.21 points to 955.76; but the Plantation Index declined 48.12 points to 7,268.30. 

-- BERNAMA 

 

 

 

 

 


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