Exchanges Open Lower Tracking Wall Street Negative Sentiment

thecekodok

 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 2.82 points at 1,519.52.10 from Monday's close of 1,522.34 after tracking negative sentiment in the Wall Street market overnight due to concerns over rising inflation as well as a potential withdrawal of stimulus measures by the Federal Reserve (Fed) United States (US).


The index opened 0.87 points at 1,525.47.


On the broader market, investors saw losers outnumber gainers by 186 to 134, while 254 counters were unchanged, 1,760 untraded and 45 suspended.


Total turnover at 207.34 million units worth RM76.62 million.


A note issued by Malacca Securities Sdn Bhd stated that the resumption of business activities and the reopening of borders would bode well for the economy.


He added that investors can focus on technology sectors that are likely to continue to thrive and consumer -related sectors during the earnings reporting season for good bargain hunting opportunities.



Heavyweights saw Malayan Banking Bhd (Maybank) down 2 sen at RM8.08, Public Bank Bhd unchanged at RM4.01 and Petronas Chemicals Group Bhd (PetChem) up 1 sen at RM8.30.


Active stocks saw ARB Bhd rise 3.5 sen to 20 sen, MMAG Holdings Bhd remained at 10 sen and Ageson Bhd declined 0.5 sen to 5 sen.


The biggest losers were Genetec Technology Bhd which rose 22 sen to RM42.02, Hong Leong Bank Bhd which fell 14 sen to RM18 and Tafi Industries Bhd which fell 11 sen to RM3.62.


While shares of Nestlé (Malaysia) Bhd rose RM1 to RM135, Genetec Technology Bhd jumped 80 sen to RM44.30 and Batu Kawan Bhd rose 36 sen to RM22.18.


On the index board, the FBM Emas index fell 9.56 points to 11,262.19, the FBMT 100 index minus 13.04 points to 10,892.74, the FBM Emas Shariah index fell 5.34 points to 12,271.53 while the FBM ACE declined 32.61 points to 6,942.26 and the FBM 70 rose 10.04 points to 14,936.65.


The Industrial Products and Services index declined 0.12 points at 199.82, the Plantation index declined 7.33 points at 6,548.31 and the Financial Services index declined 27.17 points at 15,128.63.

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