KUALA LUMPUR, June 17 ― Bursa Malaysia opened broadly lower today, tracking the losses on Wall Street overnight as investors remain cautious on the global market outlook amidst market volatility, a dealer said.
At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 25.41 points to 1,447.36 from yesterday's close of 1,472.77.
The benchmark index opened 11.84 points lower at 1,460.93.
On the broader market, losers trumped gainers 466 to 49, while 200 counters were unchanged, 1,564 untraded and 21 others suspended.
Turnover stood at 387.81 million units worth RM134.35 million.
Rakuten Trade Sdn Bhd vice-president of Equity Research, Thong Pak Leng said investors seem to be concerned that the Federal Reserve’s aggressive approach toward curbing inflation would bring the economy into a recession.
“Due to greater market volatility across the region and heavy selldown on Wall Street overnight, we expect the local market to face some headwinds and anticipate the benchmark index to trend rangebound within 1,460-1,470 for today,” he told Bernama.
Among the heavyweights, Maybank lost seven sen to RM8.65, Public Bank was down by five sen to RM4.50, Petronas Chemicals contracted 15 sen to RM9.48, IHH Healthcare shed 13 sen to RM6.21, and CIMB fell seven sen to RM4.95.
Of the actives, Sapura Energy and TWL stayed flat at five sen and seven sen, respectively, Dagang NeXchange lost 2.5 sen to 81.5 sen, and Bintai Kinden declined one sen to nine sen.
On the index board, FBM Emas Index depreciated 159.19 points to 10,335.40, FBM Emas Shariah Index decreased 201.16 points to 10,462.47, FBM 70 lost 142.09 points to 12,498.05, FBM ACE contracted 57.94 points to 4,756.80, and FBMT 100 Index fell 162.09 points to 10,065.13.
Sector-wise, the Financial Services Index weakened 152.98 points to 16,206.29, the Plantation Index lost 156.98 points to 7,161.09, and the Industrial Products and Services Index was 3.31 points lower at 185.51. ― Bernama
