Bursa Malaysia started trading today to open weak due to profit-taking activity after yesterday's main index passed the psychological level of 1,500 points.
At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 3.14 points at 1,498.93 from Thursday's close of 1,502.07.
The index opened 0.74 points lower at 1,501.33.
In the broader market, losers at 203 outnumbered gainers at 130, while 231 counters were unchanged, 1,679 untraded and 18 suspended.
Total revenue at 241.64 million units worth RM71.89 million.
According to Malacca Securities Sdn Bhd, the local market is expected to remain positive even though there are profit-taking activities today.
The fundamentals were achieved based on the understanding that investors are now shrugging off fears of aggressive rate hikes in the United States which are expected to slow.
He added, investors may also focus on the earnings season in determining the company's direction and performance before making an investment.
Firms are seen highlighting the technology, banking and consumer sectors behind a healthy recovery in earnings amid pent-up demand in the 2nd quarter.
Heavyweight stocks saw Malayan Banking Bhd (Maybank) and IHH Healthcare Bhd remain at RM8.87 and RM6.50, Public Bank Bhd rose 1 sen to RM4.65, Petronas Chemicals Group Bhd lost 8 sen to RM8.87 and CIMB Group Holdings Bhd lost 1 sen at RM5.24.
Active stocks saw CSH Alliance Bhd and Dagang NeXchange Bhd (DNeX) down 0.5 sen at 7 sen and 82 sen while Borneo Oil Bhd, PUC Bhd and MAG Holdings Bhd remained flat at 2.5 sen, 4.5 sen and 18 sen.
On the index board, the FBM Emas Shariah index decreased by 38.13 points at 10,794.96, the FBM ACE decreased by 32.10 points at 4,876.64, the FBMT 100 index decreased by 23.79 points at 10,388.78, the FBM Emas Index decreased by 23.89 points at 10,644.32 and the FBM 70 weakened by 37.26 points at 10,060.06.
In terms of sectors, the Plantation index weakened 8.97 points at 7,110.21, the Products and Services index contracted 0.91 points at 185.12 and the Energy index decreased 7.30 points at 668.71 while the Financial Services index jumped 0.28 points at 16,664.10.
