Bursa Malaysia opened lower this morning, declining from yesterday's rise following concerns over the possible implementation of the Movement Control Order (PKP) in several states which affected investor sentiment, dealers said.
At 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) market indicator declined 5.46 points to 1,597.49 after opening one-point low to 1,601.95, from 1,602.95 when it closed on Thursday.
Bernama reported that in the overall market, losers outnumbered gainers by 238 to 191, while 304 counters were unchanged, 1,351 untraded and 13 others suspended.
Turnover stood at 255.42 million units worth RM149.35 million.
Rakuten Trade Sdn Bhd Head of Research, Kenny Yee Shen Pin said, after Wall Street closed overnight overnight, regional markets are expected to trade higher today as foreign funds enter the emerging markets.
At the local level, said Shen Pin, the FBM KLCI which saw strong buying support yesterday will rise above the 1,600 limit will continue to increase, potentially testing the 1,610 level today.
"However, investors are still worried about the government's stance due to the possibility that movement restrictions could hinder progress," he said in a note.
Meanwhile, Shen Pin said that as crude oil prices continue to recover with the benchmark Brent crude oil above US $ 54 a barrel, oil and gas stocks may be ready for trading interest.
Among heavyweights, Maybank declined eight sen to RM8.20, Public Bank declined 14 sen to RM20.26, Tenaga and IHH Healthcare declined 10 sen to RM10.42 and RM5.60 respectively, Petronas Chemicals declined one sen. to RM7.04, while Top Glove rose eight sen to RM5.88.
Of active stocks, DGB, Nexgram and AT Systematization, rose half-a-sen to 28 sen, five sen and 18.5 sen, respectively, CHI declined half-a-sen to 12 sen, while PUC was flat at 14.5 sen.
On the index board, the FBM Emas Index declined 32.43 points to 11,479.03, the FBMT 100 Index declined 36.21 points to 11,225.03, the FBM 70 decreased 38.26 points to 14,518.17 and the FBM Emas Shariah Index declined 8.79 points to 12,919.09.
However, FBM ACE rose 13.04 points to 10,554.01.
Meanwhile, the Financial Services Index declined 87.54 points to 14,880.45, the Plantation Index declined 44.29 points to 7,375.75 while the Industrial Products and Services Index added 0.03 points to 171.84.
