KUALA LUMPUR, Nov 16 — Bursa Malaysia opened trading today with the barometer index lower as some investors took profit after yesterday’s rally.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.75 points to 1,464.09 compared to Wednesday’s closing of 1,466.84, the highest in more than eight months.

The index opened 2.06 points easier at 1,464.78.

Gainers, however, outpaced losers slightly by 140 to 135, while 269 counters were unchanged, 1,836 untraded and 24 others suspended.

Turnover amounted to 163.43 million units valued at RM71.94 million.

Rakuten Trade equity research vice-president Thong Pak Leng believes the current improved sentiment could give a boost to the FBM KLCI to hover within the 1,465-1,475 range.

"Wall Street continued to climb predominantly fuelled by weaker US inflationary data which ultimately indicates the end of the Federal Reserve’s battle with rate hikes.

"Although there are no signs of any rate cut as yet, sentiment remains that interest rates may have peaked,” he said, adding that Rakuten Trade continues to view the benchmark index will be able to close above the 1,500 level.

Investors also cheered China’s plans to provide at least 1 trillion yuan (US$137 billion) of low-cost financing for urban village renovations and affordable housing programmes to revive its ailing property sector.

Malacca Securities Sdn Bhd said construction, property, building material, utilities and consumer sectors would be in the limelight as the corporate sector will be heading into the busy reporting season soon.

Among heavyweights, Maybank eased three sen to RM9.11 while Public Bank, Tenaga Nasional and IHH were one sen lower at RM4.22, RM9.99 and RM5.97 respectively.

Petronas Chemicals, CelcomDigi and Hong Leong Bank were flat at RM7.35, RM4.33 and RM19.24 respectively.

Of the actives, Top Glove bagged 2.5 sen to 77.5 sen, Hong Seng increased half-a-sen to 4.5 sen, while Computer Forms and Careplus added one sen to 19 sen and 28.5 sen respectively.

On the index board, the FBM Emas Index dropped 8.78 points to 10,823.28, the FBMT 100 Index fell 10.22 points to 10,483.61 and the FBM ACE Index lost 5.14 points to 5,116.04.

Meanwhile, the FBM Emas Shariah Index rose 8.59 points to 11,055.89 and the FBM 70 Index added 27.17 points to 14,315.98.

Sector-wise, the Financial Services Index decreased 46.70 points to 16,383.40 and the Energy Index was down 1.29 points to 861.55, while the Plantation Index advanced 5.69 points to 7,027.92 and the Industrial Products and Services Index inched up 0.07 of-a-point to 174.63. — Bernama