Nearing 1,600, US Market Continues to Grieve Over Stock Trading - Kakiforex.com - Financial Market Media No. 1 in the World Nearing 1,600, US Market Continues to Grieve Over Stock Trading Nearing 1,600, US Market Continues to Grieve Over Stock Trading
InstaForex

September 9, 2021

Nearing 1,600, US Market Continues to Grieve Over Stock Trading

 Bursa Malaysia opened lower in today's trading session following the still gloomy performance of US and European stock markets due to concerns over slowing economic growth.


As at 10.39am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index fell 10.65 points to 1,586.98 from 1,597.63 at the close on Wednesday.


Bernama reported that the key index traded 5.45 points lower at 1,592.18.


On the broader market, losers outnumbered gainers by 197 out of 161, while 275 counters were unchanged, 1,586 untraded and six others suspended.


Turnover stood at 209.25 million units worth RM93.14 million.


Malacca Securities explained that the country's economic recovery is seen to be on track following Kuala Lumpur and Putrajaya moving into phase 2.


However, it is likely that investors will remain optimistic and vigilant towards the overnight policy rate (OPR) decision by Bank Negara Malaysia (BNM) which will be reported today.



The publication report will provide a benchmark for the current economic situation as well as the prospects for the country's recovery in the future.


Following that, the recovery sector will continue to be the focus due to the positive impact where more economic sectors will resume operations.


For heavyweights, Maybank rose two sen to RM8.33, Petronas Chemicals jumped five sen to RM8.14 and Public Bank declined three sen to RM4.12.


TNB rose four sen to RM10.34 and IHH Healthcare added 13 sen to RM6.53.


For active stocks, SYF Resources ‘rocketed’ 1.5 sen to 45.5 sen, Paos Holdings rose two sen to nine sen and Kanger International fell half -a -sen to 5.5 sen.


On the index board, FBM 100 fell 34.73 points to 11,329.72, FBM 70 declined 44.90 points to 15,195.62 and FBM ACE added 6.73 points to 7.258.81.


FBM Emas fell 31.73 points to 11,633.57 and FBM Emas Shariah declined 27.34 points to 12,760.99.


By sector, the Financial Services index fell 51.51 points to 15,474.93, the Industrial Products and Services index increased 0.29 points to 202.90 and the Plantation index declined 51.10 points to 6,677.45.