Bursa Malaysia Mixed Colors Opening Early Week

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 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 0.11 points at 1,604.05 from Friday's close of 1,603.94.


The index opened strong 2.33 points at 1,606.27.


It opened mixed on Monday morning, supported by bargin-hunting activity on selected heavyweights led by Petronas Chemicals Group Bhd and Press Metal Aluminum Holdings Bhd amid concerns of a geopolitical war and weak sentiment.


On the broader market, investors saw losers outpacing gainers by 220 to 167, while 200 counters were unchanged, 1,676 untraded and 10 suspended.


Total turnover at 152.02 million units worth RM82.02 million.


Public Investment Bhd said the Wall Street market was turbulent with the S&P 500 down 0.8% and the Nasdaq down 1.7%.



He added that investors are now looking for safe -haven assets such as United States (US) government bonds, gold and dollars.


In addition, the KLCI is expected to be at 1,622 to 1,600 with the index support level at 1,551 to 1,600 and the resistance level at 1,620 to 1,652.


Heavyweights saw Petronas Chemicals rise 20 sen to RM10.24 while Press Metal added 3 sen to RM7.25 and Malayan Banking Bhd (Maybank), Public Bank Bhd and IHH Healthcare Bhd remained at RM9, RM4.42 and RM6.60.


Active stocks saw Hibiscus Petroleum Bhd rise 6 sen at RM1.30, Euro Holdings Bhd gained 3.5 sen at 38.5 sen and Velesto Energy Bhd added 0.5 sen at 13.0 sen.


On the index board, FBM Emas was down 8 points at 11,333.51, FBM 70 was down 51.34 points at 13,135.85, FBMT 100 was down 8.45 points at 11,022.59 and FBM ACE was down 32.79 points at 5,475.27 while FBM Emas Shariah was strong 0.32 points at 12,079.69.


In terms of sectors, the Products and Services Industry index strengthened 1.19 points at 214.41, the Financial Services index contracted 36.84 points at 16,356.39 and the Plantation index declined 33.71 points at 8,513.80.

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