BURSA Malaysia opened lower across the board, taking cue from global equities today (Feb 3) as concerns on the economic impact of the 2019 novel coronavirus (2019-nCoV) outbreak continue to dampen investor confidence.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.82% or 12.61 points to 1,531.06 from Friday’s close of 1,531.06.
The benchmark index opened 8.92 points easier at 1,522.14.
In the broader market, losers thumped gainers 505 to 38, with 147 counters unchanged, 1,270 untraded and 21 others suspended.
Turnover amounted to 352.17 million shares worth RM122.05 mil.
In a note, Malacca Securities Sdn Bhd said the local equity market is expected to slide lower today with the key index moving towards 1,515 or even 1,500 points.
“With the downside risk remaining unabated (coronavirus outbreak), any recovery is expected to be relatively mild with resistance located towards the 1,550 level in the interim,” said the stockbroking company. – Feb 3, 2020, Bernama
