KUALA LUMPUR, April 13 — Bursa Malaysia opened easier this morning, with the key index remained in weak territory due to weak risk appetite in the market.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 1.72 points to 1,606.7 from Monday’s close of 1,608.42.
The index opened 0.29 of-a-point better at 1,608.71.
On the broader market, losers slightly outnumbered gainers 204 to 195, while 1,266 counters were unchanged, 493 untraded and 11 others suspended.
Total volume stood at 789.59 million shares worth RM292.27 million.
Malacca Securities Sdn Bhd said amid the lack of fresh catalyst, the local bourse might stage a further pullback, but the weakness might be cushioned by a technical rebound.
The unstable number of Covid-19 daily confirmed cases that has resulted in the extension of the conditional movement control order (CMCO) and recovery movement control order (RMCO) in several states may also impact on the smoother economic recovery, it said.
“We believe selected sectors related to the recovery-theme such as construction, property and consumer are still on their uptrend move despite the unstable number of Covid-19 daily confirmed cases.
“Besides, packaging-related stocks may also be in favour in view of the extension of CMCO and RMCO,” the research firm said in a note.
Of the heavyweights, Public Bank and IHH Healthcare trimmed one sen each to RM4.20 and RM5.37, respectively, Petronas Chemicals fell 12 sen to RM7.86, and Tenaga eased four sen to RM10.20.
Top Glove added one sen to RM5.26 while Maybank was flat at RM8.32.
Among the active counters, Luster Industries erased 24 sen to half-a-sen, CNI bagged 20.5 sen to one sen, Seacera was flat at 23.5 sen, and Permaju decreased 18 sen to one sen.
On the index board, the FBM Emas Index fell 11.37 points to 11,876.97, the FBM Emas Shariah reduced 14.35 points to 13,246.91, the FBMT 100 contracted 9.61 points to 11,527.48, the FBM 70 slipped 2.68 points to 15,840.35, and the FBM ACE gave up 25.24 points for 9,728.75.
Sector-wise, the Industrial Products and Services Index shed 0.84 of-a-point to 194.74, the Plantation Index slid 0.11 of-a-point to 6,959.91, and the Financial Services Index lost 5.01 points to 15,197.63. — Bernama
