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KUALA LUMPUR, Jan. 5: Bursa Malaysia was widely higher in early trading today, as yesterday’s selling pressure continued amid weak market sentiment, dealers said.
At 9.23am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index lost 3.53 points to 1,599.04 after opening a half point higher at 1,603.07 compared to Monday’s close of 1,602.57.
Market breadth was negative with losers outnumbering winners 445 to 211, while 993 accountants remained unchanged, 433 untraded and another 12 suspended.
The volume stood at 1.17 million units worth RM571.48 million.
Rakuten Trade Sdn Bhd head of research Kenny Yee Shen Pin expects the KLCI FBM to remain volatile, affected by high volatility among glove counters.
“Therefore, the benchmark index would possibly hover today within the 1,590 and 1,600 range, with 1,590 being the immediate support level,” he said.
On a more positive note, the ringgit is now at a 52-week high against the US dollar, at RM4.00 / US $ 1, he said, projecting that the local currency will continue to strengthen around the 3.80 level this year. .
Of the heavyweights, Maybank fell two sen to RM8.33, Public Bank cut four sen to RM 20.48, Petronas Chemicals fell nine sen to RM7.12, while IHH Healthcare held steady at RM5.52.
Tenaga added two sen to RM10.48 and Top Glove rose eight sen to RM5.58.
Of the assets, BCM gained one sen to 37 sen, DGB rose half a sen to 27.5 sen, Techna-X pocketed 1.5 sen to 16 sen, but Niche lost one sen to 27 sen.
On the index board, the FBM Emas index was 41.19 points lower to 11,565.27, the FBMT 100 index decreased 41.88 points to 11,302.28, the FBM 70 dropped 121 points to 14,877.54, the FBM Emas Shariah index contracted 37.11 points to 12,906.29, while that the FBM ACE accumulated 18.52 points to 10,753.21.
Meanwhile, the Industrial Products and Services Index fell 1.06 points to 174.39, the Financial Services Index erased 63.48 points to 15,178.43, and the Plantations Index fell 5.52 points to 7,323.98. – Bernama
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