KUALA LUMPUR, Nov 9 — Bursa Malaysia opened slightly higher today, but retreated thereafter as mild profit-taking started to emerge in selected heavyweights after yesterday's gains, dealers said.
At 9.55am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.67 points to 1,532.74 from Monday's close of 1,535.41, after opening 0.14 of-a-point higher at 1,535.55.
On the broader market, losers led gainers 241 to 185, while 330 counters were unchanged, 1,521 untraded and 18 others suspended.
Turnover amounted to 453.28 million units worth RM234.47 million.
In a research note today, Malacca Securities Sdn Bhd said it expected market players to trade cautiously in view of the upcoming Melaka state election.
“Despite the lacklustre trading activities on the local front, we noticed that foreign funds have been buying into local equities over the past two trading days.
“However, we expect that the broader market will trade in a rangebound mode while investors are on the lookout for the unemployment and the gross domestic product data which will be released today and on Friday, respectively,” it said.
Meanwhile, the research firm said that the Malaysia-Singapore quarantine-free travel lane will be launched for fully-vaccinated citizens at the end of this month, signalling brighter prospects for the aviation, tourism and consumer sectors.
“Investors may position themselves in the aviation, tourism and consumer sectors as they might benefit from the quarantine-free travel lane proposal.
“Additionally, the technology stocks may be in the limelight following ViTrox’s bonus issue and JF Technology Bhd’s mainboard transfer announcements, respectively,” it added.
Among the heavyweights, Maybank and Petronas Chemicals added 1.0 sen each to RM8.02 and RM8.31, respectively, IHH Healthcare rose 6.0 sen to RM6.57, while Public Bank fell 1.0 sen to RM4.03 and TNB declined 2.0 sen to RM9.65.
Of the actives, Ecomate slipped 1.5 sen to 47 sen, KNM Group eased half-a-sen to 21 sen, Eduspec was flat at 2.0 sen, while Tafi Industries gained 28 sen to RM3.01.
On the index board, the FBM Emas Index decreased 20.45 points to 11,344.68, the FBMT 100 Index shed 19.76 points to 10,977.83, the FBM Emas Shariah Index dipped 26.21 points to 12,372.24, the FBM ACE slipped 23.50 points to 7,030.33 and the FBM 70 weakened by 29.31 points to 15,015.65.
Sector-wise, the Industrial Products and Services Index edged down 0.35 of-a-point to 202.05, the Plantation Index reduced 3.97 points to 6,725.19, and the Financial Services Index was 17.20 points lower at 15,154.09. — Bernama
