Bursa Malaysia opened higher today but declined later following market concerns over the daily positive Covid-19 cases which remained high when it hit more than 2,000 cases for the fifth day in a row.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.04 points to 1,595.25 from 1,600.29 at the close yesterday.
Bernama reported that the barometer index opened 0.14 points higher at 1,600.43.
The overall market environment remained negative with losers outpacing gainers by 247 to 153, while 282 counters were unchanged, 1,484 counters untraded and seven others suspended.
Turnover stood at 299.94 million shares worth RM140.69 million.
According to Malacca Securities, market sentiment remains cautious even as the second phase of the Covid-19 vaccination program has begun amid rising cases in the country.
Abroad, the U.S. stock market slipped from new highs as the Dow Jones Industrial Average index was dragged down by sales of technology stocks, which recorded the biggest decline in nearly four weeks.
The Dow Jones was down 0.36% to 34,077.63, the Nasdaq was down 0.98% to close at 13,914.77 and the S&P 500 was down 0.53% to 4,163.26.
“While we are wary of the Nasdaq's overnight decline, we also expect the technology sector to take advantage of Microsoft's partnership announcement under the Bersama Malaysia initiative.
"In addition, the energy sector may also be the focus in the face of higher Brent oil prices when they return to levels above US $ 67 per barrel," the brokerage firm said in a research note.
Heavyweights, Petronas Chemicals fell 12 sen to RM7.78 and Press Metal was down eight sen to RM5.30.
Top Glove remained lower as it declined six sen to RM5.40 and IHH contracted four sen to RM5.33.
Meanwhile, Sime Darby Plantation and Genting Malaysia Bhd rose two sen each to RM4.52 and RM2.86.
Among active counters, Censof rose 13 sen to 51 sen, Advance Synergy added one sen to 16.5 sen, PUC added half -a -sen to 13 sen while Key Asic dropped half -a -sen to 17 sen.
On the index board, the FBM Gold Index declined 26.85 points to 11,760.35; The FBMT 100 was down 27.41 points to 11,417.67 and the FBM 70 was down 3.95 points to 15,583.14.
FBM Emas Syariah declined 37.45 points to 13,173.48 and FBM ACE declined 23.24 points to 8,546.94.
By sector, the Plantation Index rose 2.60 points to 6,868.83, the Financial Services Index contracted 30.05 points to 14,997.45 while the Industrial Goods and Services Index fell 1.29 points to 194.91.
