Bursa Malaysia traded mixed this morning after recording gains last week, in line with performance in regional markets.
Investors are seen to be cautious, especially ahead of the first US Federal Conference meeting under Joe Biden's administration later today.
At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) key indicator index rose 0.06 points to 1,596.80 from 1,596.74 when it closed last week.
Bernama reported that the key index opened 3.80 points higher at 1,600.54.
In the broader market, losers outnumbered gainers by 617 to 183 while 289 counters were unchanged, 1,209 untraded and 20 others suspended.
Turnover was 904.80 million units worth RM590.42 million.
Taking cues from mixed performance on Wall Street last Friday, Malacca Securities projected a slow rebound in the FBM KLCI last week to weaken today while market sentiment is expected to be cautious ahead of the first US Federal Reserve meeting under the Biden administration as well as the trading period. which is short this week.
"As the reporting season is approaching, investors may turn to selected sectors with high incomes while Covid-19 cases continue to increase.
"Based on the upcoming reporting season, we expect the technology, plantation and furniture sectors to potentially occupy the top spot and will be the focus of traders," he said in a research note today.
Among heavyweights, Maybank and TNB declined 4.0 sen to RM76.96 and 9.74 respectively, Public Bank declined 18 sen to RM21.48, Petronas Chemicals fell 10 sen to RM7.27 but Top Glove added 21 sen to RM6. 46.
Strongest stocks, Nexchange Trading gained 2.5 sen to 28.5 sen, Bioalpha rose 1.5 sen to 31.5 sen while QES declined 1.5 sen to 36.5 sen and DGB Asia declined half-a-sen to 8.5 sen.
On the index board, the FBM Emas Index was down 39.24 points to 11,524.38, the FBMT 100 Index was down 32.03 points to 11,262.73 and the FBM Emas Syariah Index was down 1.48 points to 13,047.47.
FBM 70 declined 168.35 points to 14,733.33 and FBM ACE declined 75.82 points to 10,682.19.
By sector, the Financial Services Index fell 146.09 points to 14,739.57, the Plantation Index declined 3.79 points to 7,219.37 while the Industrial Products and Services Index declined 2.55 points to 174.80.
