After Being Positive At The Beginning Of The Week, Why Can The Exchange Lose Today?

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 At 9.10am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 9.89 points at 1,557.55 from Monday's close of 1,567.44.


The index opened 2.54 points weaker at 1,546.90.


It opened weak with an extension of profit-taking activity on the tech index while tracking Wall Street’s negative performance.


On the broader market, investors saw losers outpacing gainers by 307 to 92, while 221 counters were unchanged, 1,681 untraded and 14 suspended.


Total turnover at 155.91 million units worth RM103.6 million.


Rakuten Trade Sdn Bhd vice -president of equity research, Thong Pak Leng said the local equity market saw the benchmark index rise higher due to continued support from foreign funds.



He added that the KLCI is expected to be in the trend of 1,560 to 1,580 today.


Meanwhile, the commodity market saw the price of crude palm oil drop by RM7,000 per tonne while Brent crude oil fell by US $ 107 or RM450.52 per barrel due to travel restrictions in Shenzhen China.


Heavyweights saw Malayan Banking Bhd (Maybank) and Public Bank Bhd strengthen 3 sen at RM8.95 and RM4.47, Petronas Chemicals Group Bhd declined 17 sen at RM9.42, IHH Healthcare Bhd and Tenaga Nasional Bhd (TNB) remained at RM6.40 and RM8.96 while CIMB Group Holdings Bhd lost 3 sen at RM5.04.


Active stocks saw Hibiscus Petroleum Bhd down 4 sen at RM1.07, Bumi Armada Bhd down 1 sen at 39 sen and Dagang NeXchange Bhd (DNeX) down 1.5 sen at 96.5 sen.


On the index board, the FBM Emas index weakened 70.29 points at 11,010.04, the FBM Emas Shariah index contracted 117.90 points at 11,592.61, the FBM 70 declined 76.97 points at 12,893.08, the FBMT 100 index declined 67.23 points at 10,727.56 and the FBM ACE declined 5,17 41.93 points.


In terms of sector, the Products and Services Industry index decreased 3.18 points at 198.74, the Financial Services index added 12.94 points at 16,270.15 and the Malay Plantation index 136.03 points at 8,098.63.

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