KUALA LUMPUR: Bursa Malaysia opened mixed today as mild bargain hunting emerged, coupled with apparent profit-taking activities.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.45 points easier at 1,604.73 from Friday’s close of 1,610.18.
The index opened 3.73 points higher at 1,606.45.
In the broader market, gainers outpaced losers 124 to 113, while 182 counters remained unchanged, 1,573 untraded and 29 others suspended.
Turnover amounted to 68.08 million shares worth RM32.18 mil.
Axi Trader Asia-Pacific market strategist Stephen Innes was optimistic saying that the “phase one” US-China trade deal agreement and the UK’s elections have cleared up tail risks.
“While phase one is already reflected in stock prices, positioning is still relatively light, and with plenty of capital yet to be deployed, markets could even push significantly higher supported by the global growth rebound,” Innes said in a note today.
Among heavyweights, Maybank declined one sen to RM8.61, Tenaga eased eight sen to RM13.30, PetChem decreased 12 sen to RM7.50, while Public Bank gained two sen to RM19.84 and CIMB was flat at RM5.27.
Of the actives, Brahims and VisDynamics added 4.5 sen each to 36.5 sen and 46 sen respectively, while IFCA MSC and Datasonic rose one sen each to 50.5 sen and RM1.27 respectively.
The FBM Emas Index eased 28.13 points to 11,376.61, the FBM Emas Shariah Index depreciated 48.35 points to 12,020.19 while the FBMT 100 Index trimmed 29.97 points to 11,180.46.
The FBM Ace, however, rose 26.79 points to 5,055.38 but the FBM 70 weakened 4.99 points to 14,102.99.
Sector-wise, the Financial Services Index decreased 13.73 points to 15,547.80, the Industrial Products and Services Index eased 0.92 point to 153.94 while the Plantation Index improved 3.62 points to 7,607.77. – Dec 23, 2019, Bernama
