KUALA LUMPUR, May 21 — Bursa Malaysia extended its weakness in early trade today on concerns over a potentially stricter lockdown to contain the spread of Covid-19 infections. 

At 9.11am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.48 points to 1,570.84 from Thursday’s close of 1,575.32. 

The index opened 5.89 points easier at 1,569.43. 

On the broader market, losers outpaced gainers 363 to 187, while 281 counters were unchanged, 1,381 untraded and 18 others suspended.

Total volume stood at 574.60 million worth RM275.39 million.

Malacca Securities Sdn Bhd said mild bargain hunting might emerge, but noted that the overall market sentiment remains cautious as investors await the National Security Council’s decision on the potentially full implementation of the Movement Control Order during its meeting today.

Meanwhile, commodities-wise, it said that both crude palm oil and oil have staged a pullback following the recent rally.

"Investors may opt for stocks with high earnings certainty amidst the earning season, such as the packaging and essential consumer-related sector.

"Bargain hunting may also emerge in the technology stocks following the overnight gains in Nasdaq,” said Malacca Securities in a research note today. 

Among the heavyweights, Maybank added three sen to RM8.30, TNB gained one sen to RM9.91, IHH Healthcare jumped 11 sen to RM5.39, Top Glove rose two sen to RM5.39, Public Bank fell four sen to RM4.16, Petronas Chemicals trimmed 16 sen to RM7.78 and CIMB slid five sen to RM4.20. 

Of the actives, Tanco edged up half-a-sen to 15 sen, Sedania Innovator jumped 16.5 sen to 77 sen, LKL International was two sen higher at 41.5 sen, Focus Dynamics and Talam Transform were flat at six sen and 2.5 sen, respectively, while Eka Noodles slid 4.5 sen to one sen. 

On the index board, the FBM Emas Index slipped 37.34 points to 11,378.13, and the FBMT 100 Index discounted 30.40 points to 11,092.56.   

The FBM Emas Shariah Index decreased 35.87 points to 12,670.74, the FBM ACE increased 11.15 points to 7,613.27, and the FBM 70 fell 35.09 points to 14,560.14. 

Sector-wise, the Plantation Index went down 12.0 points to 6,906.31, the Industrial Products and Services Index inched down 2.40 points to 185.43, and the Financial Services Index weakened by 12.70 points to 14,862.96. — Bernama