Bursa Malaysia Opens Lower On Mild Profit-taking

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Aug 13 (Bernama) -- Bursa Malaysia opened lower today on mild profit-taking in most indices amid cautious sentiment, analysts said. 

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.95 points weaker at 1,602.71 compared with Monday’s close of 1,606.66.

The benchmark index opened 0.82 of-a-point easier at 1,605.84.

On the broader market, decliners outpaced gainers 188 to 124, with 266 counters unchanged, 1,868 untraded and nine suspended.

Turnover stood at 148.15 million units worth RM71.58 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said with the FBM KLCI now being above the 1,600 level supported by local institutions, it would instil some confidence in the smaller caps.

Thus, daily volume is expected to improve going forward, he said.

He also said crude oil prices firmed on escalating tension in the Middle East and more positive United States economic data, with Brent crude hitting almost US$81 per barrel.

“We reckon the index will likely hover within the 1,600-1,615 range today as market undertone remains cautious,” said Thong.

Among the heavyweights, Press Metal Aluminium slid 8.0 sen to RM4.94, Maxis erased 6.0 sen to RM3.48, YTL Corporation dropped 4.0 sen to RM3.27, Public Bank trimmed 2.0 sen to RM4.24, and YTL Power International shed 3.0 sen to RM4.43. 

Of the active counters, Sik Cheong gained 19.5 sen to 46.5 sen, Nova MSC added half-a-sen to 22 sen, and Barakah was flat at 7.5 sen, while Cape EMS and Tanco slipped 1.0 sen each to 49.5 sen and 98 sen, respectively.

Kuala Lumpur Kepong topped the losers list as it fell 18 sen to RM20.68, followed by Petronas Dagangan and PPB Group which dropped 14 sen each to RM17.68 and RM14.56, respectively, and Sunway Construction Group which declined 11 sen to RM4.52. 

On the index board, the FBM Emas Index edged down 26.93 points to 12,228.29, the FBMT 100 Index dipped 27.47 points to 11,857.28, and the FBM 70 Index lost 34.68 points to 17,805.06, and the FBM Emas Shariah Index retreated 24.63 points to 12,377.72.

However, the FBM ACE Index rose 16.44 points to 5,463.72 but 

Sector-wise, the Financial Services Index decreased by 26.60 points to 18,144.88, the Energy Index gained 2.84 points to 929.25, the Industrial Products and Services Index slid 0.35 of-a-point to 181.17, the Plantation Index reduced 10.22 points to 7,103.33, and the Technology Index weakened 0.02 of-a-point to 71.69.

-- BERNAMA