Bursa Malaysia opens decrease amid careful buying and selling

KUALA LUMPUR, Jan 26 — Bursa Malaysia opened reduce nowadays, buying and selling in careful method adhering to the lacklustre overall performance on Wall Avenue right away.

In the United States (US), stocks finished flat overnight as investors assessed the latest batch of corporate final results and ahead of the launch of crucial economic knowledge, sellers said.

At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lose 2.66 factors to 1,496.79 from Wednesday’s near of 1,499.45 .

The current market bellwether opened 2.04 factors lower at 1,497.41.

In the broader sector, gainers led decliners 170 to 127, although 244 counters were unchanged, 1,689 untraded and 37 some others suspended.

Turnover amounted to 160.20 million models worthy of RM69.25 million.

Malacca Securities Sdn Bhd said the FBM KLCI failed to make on to the constructive momentum from the pre-Chinese New Calendar year moves as the important index dropped floor on rapid financial gain-using things to do.

“Still, we are banking on the restoration theme from China which will enhance the FBM KLCI above the 1,500 stage, while the reduced liners may well keep on to capitalise on the enhanced investing environment and enjoy additional rotational enjoy.

“Globally, the concentration will shift to the preliminary looking at of the US fourth quarter 2022 Gross Domestic Solution details tonight,” it shared.

Commodities-wise, it noted Brent crude oil edged somewhat bigger to remain above US$86 per barrel, but crude palm oil (CPO) price slipped underneath RM3,800 a tonne on additional gain-getting activities.

As a result, it stated, the electricity sector is expected to stay in focus on the back of the organization oil rates and amid China’s restoration, even though investors wait for the Organisation of the Petroleum Exporting Nations around the world (Opec) meeting on Feb 1, 2023, for sector direction.

“Meanwhile, the history substantial automotive complete marketplace volume registered in 2022 could raise automotive-similar shares. On the flip facet, the fiscal products and services sector may possibly undergo a consolidation next the pause in overnight policy charge hikes by Financial institution Negara Malaysia,” it included.

Between the heavyweights, Petronas Chemical slid a few sen to RM8.47, CIMB eased just one sen to RM5.77, and Tenaga Nasional fell 5 sen to RM9.47, while Maybank and Public Lender have been flat at RM8.81 and RM4.29, respectively.

As for the actives, Market Cash included two sen to 16.5 sen, Cypark gained 3.5 sen to 87.5 sen, Dataprep improved a single sen to 27.5 sen, JHM Consolidation rose 5.5 sen to 94.5 sen, and Leform bagged 1.5 sen to 23 sen.

On the index board, the FBM Emas Index shed 11.55 details to 10,857.25, the FBMT 100 Index retreated 14.73 points to 10,534.31, and the FBM Emas Shariah Index slipped 16.51 factors to 11,095.45.

The FBM 70 Index shaved 1.75 factors to 13,617.12 even though the FBM ACE Index greater 8.45 points to 5,635.55.

Sector-sensible, the Monetary Products and services Index gave up 6.61 details to 16,535.41, the Industrial Merchandise and Providers Index trimmed .18 of-a-issue to 189.67, the Electrical power Index eased 3.37 details to 867.06, and the Plantation Index climbed 10.28 details to 6,829.24. — Bernama

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