malaysiangKUALA LUMPUR, Bursa Malaysia’s barometer broke the 1,680 resistance level at the opening but subsequently retreated as investors opted to book profits in heavyweights after last week’s rally.
At 9.09 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.07 of-a-point to 1,678.73 from Friday’s close of 1,678.80.
The index opened 1.56 points higher at 1,680.36.
The broader market was firm, with gainers outnumbering decliners 256 to 217, with 308 counters unchanged, 1,646 untraded and 15 others suspended.
Turnover totalled 264.14 million units valued at RM135.99 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the 1,680 mark was last seen in January 2019.
“We believe the uptrend will continue and expect the index to hover within the 1,680-1,690 range today with the crucial 1,700 psychological as the ultimate immediate target.
“Recent earnings released suggest that corporate Malaysia is in solid shape particularly the banks, and we expect the blue chips to remain the bastion
for the local bourse,” he said.
He said the fresh new high in the Wall Street Dow Jones Index buoyed by the latest personal consumption expenditure (PCE) index that came in within expectations will also support local market sentiment.
In Hong Kong, the Hang Seng Index closed higher almost at the 18,000 level as bargain-hunting activities emerged after the recent sell-down coupled with positive signs from the US economy.
At home, heavyweight CelcomDigi lost eight sen to RM3.79, Public Bank was four sen lower at RM4.78 and Press Metal eased nine sen to RM4.88.
Meanwhile, CIMB and Tenaga Nasional each rose 10 sen to RM8.30 and RM14.74 respectively, capping further losses in the FBM KLCI.
As for the active counters, Borneo Oil, TWL Holdings, Malayan United Industries and Luster were all flat at one sen, 2.5 sen, 8.5 sen and seven sen respectively, while Notion Vtec rose nine sen to RM1.04.
On the index board, the FBM Emas Index dropped 2.07 points to 12,482.19, the FBMT 100 Index declined 3.54 points to 12,
184.08 and the FBM Emas Shariah Index went down 2.84 points to 12,283.83.
The FBM 70 Index lost 16.29 points to 17,427.63 but the FBM ACE Index added 12.28 points to 5,128.37.
Sector-wise, the Plantation Index gained 1.37 points to 7,314.56 while the Financial Services Index slid 2.80 points to 19,714.73.
The Industrial Products and Services Index shed 1.03 points to 180.37 and the Energy Index shaved 5.59 points to 921.11.
Source: BERNAMA News Agency
