Bursa Malaysia Opens Little Changed Amid Mixed Market Sentiment

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Dec 4 (Bernama) -- Bursa Malaysia opened little changed today on volatile trading amid Wall Street’s mixed sentiment, ahead of key US economic data set to be released later this week.

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.16 points to 1,608.12 from Tuesday’s close of 1,606.96 

The index opened 0.01 of-a-point marginally higher at 1,606.97.

Market breadth was positive, with gainers leading losers 177 to 101 while 282 counters were unchanged, 1,851 untraded, and 10 suspended.

Turnover amounted to 239.12 million units valued at RM63.72 million.

Rakuten Trade Sdn Bhd head of research Kenny Yee said the FBM KLCI finally broke past the 1,600 mark after several attempts during yesterday’s trading, suggesting foreign selling may be easing.

While remaining cautious about the rebound's sustainability, he expects the index to stay within the 1,605-1,615 range today.

“Additionally, he noted that political developments in South Korea could have ripple effects across the region,” he told Bernama.

Meanwhile, ActivTrades trader Anderson Alves said Asian equities may experience choppy trading on Wednesday, with a particular focus on South Korea's markets.

South Korean President Yoon Suk Yeol's announcement to lift martial law, which had previously triggered a sell-off, brought optimism back to the market, he added.

On the trade front, Alves said attention turns to China's Commerce Ministry imposing export bans on "dual-use" materials such as gallium and germanium, intensifying trade tensions with the US.

“This could prompt traders to remain cautious regarding China's market exposure closer to US President Trump's inauguration in January,” he said.

Among the heavyweights, Maybank fell four sen to RM10.14, CIMB decreased three sen to RM8.18, Public Bank eased one sen to RM4.50 and IHH went down five sen to RM7.17.

In contrast, Tenaga Nasional rose 12 sen to RM13.50. 

As for active counters, Zen Tech and Bintai Kinden were flat at four sen and 8.5 sen respectively while Velocity inched down half-a-sen to four sen.

Mpire Global ticked up half-a-sen to 12 sen and Datasonic bagged one sen to 42 sen.

On the index board, the FBM Emas Index expanded 18.97 points to 12,251.18, the FBMT 100 Index climbed 16.68 points to 11,937.68 and the FBM 70 Index jumped 54.93 points up to 18,073.35. 

The FBM Emas Shariah Index advanced 40.06 points to 12,240.10 and the FBM ACE Index gained 10.58 points to 5,200.22.

Sector-wise, the Financial Services Index shaved 17.51 points to 19,073.69 while the Plantation Index slid 10.41 points to 7,724.60. The Industrial Products and Services Index inched up 0.01 of-a-point to 174.83 but the Energy Index added 5.23 points to 806.78.

-- BERNAMA