KUALA LUMPUR, June 25 ― Bursa Malaysia opened 0.02 per cent lower today, reflecting cautious investor sentiment following a mixed performance in global markets yesterday.

Some investors were observed seeking bargains due to lower valuations.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.46 of-a-point to 1,589.20 from yesterday's close of 1,589.66. The benchmark index opened 0.05 points better at 1,589.71.

On the broader market, decliners outpaced gainers 201 to 150, with 300 counters unchanged, 1,767 untraded and 16 suspended.

Turnover stood at 237.32 million units worth RM89.65 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trended in a tight range and ended in negative territory yesterday, mirroring the performance of emerging markets. “We expect this to offer opportunities for investors to engage in bargain hunting, given the cheaper valuations,” Thong added.

Bursa Malaysia closed lower yesterday, continuing its losing streak for the sixth session. In contrast, Brent crude oil remains elevated at above US$83 (RM390.80) per barrel, which Thong said would provide a short-term boost for energy stocks.

“We anticipate the benchmark index to trend within the range of 1,590 to 1,610 points today,” he added.

Among heavyweight losers, Maxis dropped five sen to RM3.50, Press Metal fell four sen to RM5.79, Maybank eased two sen to RM9.86, PPB decreased 16 sen to RM14.40 and Hong Leong Bank lost eight sen to RM19.08.

In active trading, Ignenieur Gudang rose half a sen to seven sen, Systech gained three sen to 47 sen, Velesto was flat at 25 sen, Siab declined half a sen to 12 sen, while its warrant increased by 2.5 sen to three sen.

On the index board, the FBM Emas Index gained 6.26 points to 12,200.30, the FBMT 100 Index inched up 1.20 points to 11,772.82, and the FBM Emas Shariah Index advanced 5.93 points to 12,551.07. The FBM 70 Index jumped 18.65 points to 17,735.15, while the FBM ACE Index slipped 0.18 points to 5,713.83.

Sector-wise, the Financial Services Index fell 4.26 points to 17,350.15, the Industrial Products and Services Index eased 0.40 points to 198.05, the Energy Index advanced 0.89 of-a-point to 953.03 and the Plantation Index weakened by 1.84 points to 7,022.68. ― Bernama