KUALA LUMPUR, Feb 7 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, opened easier Tuesday morning, tracking the weak Wall Street performance overnight as investors digested last week’s economic data.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.92 points to 1,484.55 from Friday’s close of 1,490.47.
The key index opened 2.65 points lower at 1,487.82.
Market breadth was negative with losers surpassing gainers 263 to 131, while 295 counters were unchanged, 1,497 untraded and 21 others suspended.
Turnover amounted to 338.09 million units worth RM155.73 million (US$1=RM4.30).
Malacca Securities Sdn Bhd said in a note that the global sentiment remained uncertain in view of the Nasdaq-led decline on Wall Street following the robust January employment figures.
“The employment figures have raised concerns over potentially more hawkish tone from the United States Federal Reserve (Fed).
“Given the pullback on Wall Street, coupled with the rising bond yield, the technology sector may see further pullback,” it said.
On the local front, investors could be focusing on the upcoming earning season and the re-tabling of Budget 2023 on Feb 24, said the brokerage firm.
“With the traders’ focus shifting towards the earnings season and re-tabling of Budget 2023, the industrial products and services, construction, oil and gas as well as selected consumer stocks may come under the limelight,” it said.
Commodities-wise, Brent crude oil traded above US$81 per barrel, while the crude palm oil price hovered above RM3,850 per tonne, it added.
Meanwhile, Bursa heavyweight Maybank declined six sen to RM8.65, Petronas Chemicals went down by seven sen to RM8.24, CIMB weakened by four sen to RM5.62 and Tenaga Nasional gave up 12 sen to RM9.45, while Public Bank was flat at RM4.21.
As for the actives, MY E.G. Services contracted 30 sen to 65.5 sen, Iris Corporation gained 5.5 sen to 18 sen, Zen Tech International and Hong Seng Consolidated climbed half-a-sen each to seven sen and 19.5 sen, while Sapura Energy was flat at 4.5 sen.
On the index board, the FBM Emas Index dwindled 63.63 points to 10,822.72, the FBMT 100 Index slipped 63.42 points to 10,484.47, the FBM Emas Shariah Index went down 77.63 points to 11,134.64 and the FBM 70 Index dumped 175.69 points to 13,709.30.
However, the FBM ACE Index improved 55.66 points to 5,898.89.
Sector-wise, the Industrial Products and Services Index eased 1.15 points to 190.60, the Energy Index inched down 6.17 points to 899.94 and the Financial Services Index shrank 70.08 points to 16,244.74, but the Plantation Index increased by 14.95 points to 6,942.19
— NNN-BERNAMA
