Lose, Fall, Fall! The stock market retreated from last week's highs


 Bursa Malaysia extended losses to open weak due to mixed sentiment on Wall Street overnight.

At the opening, the FBM KLCI index started up 0.74 points at 1,476.22 before falling 3.88 points at 1,473.06 compared to Tuesday's close at 1,476.96.

In the broader market, gains at 145 outpaced losses at 152, while 254 counters were unchanged, 1,739 untraded and 67 suspended.

Total revenue at 353.69 million units worth RM75.44 million.

According to Malacca Securities Sdn Bhd, there is profit-taking activity on selected heavyweights from profits after the last general election.

Not to be forgotten are the factors of Wall Street's mixed performance and negative local market sentiment provoking investors to buy at risk.

Heavyweight stocks saw Maybank and CIMB Group Holdings Bhd down 3 sen at RM8.67 and RM5.79, Public Bank Bhd down 1 sen at RM4.40, Petronas Chemicals Group Bhd down 8 sen at RM8.44 and IHH Healthcare Bhd down 4 sen at RM5.91.

Active stocks saw MMAG Holdings Bhd steady at 3 sen and Zen Tech International Bhd at 4.5 sen, Leform Bhd down 3 sen at 20 sen and SMTrack Bhd down 0.5 sen at 5.5 sen while MQ Technology Bhd gained 0.5 sen at 5.5 sen.

On the index board, the FBM Emas index fell 15.79 points at 10,528.72, the FBMT 100 index was down 16.21 points at 10,243.70, the FBM Emas Shariah Index was down 11.89 points at 10,650.68, the FBM ACE was up 27.61 points at 5,224.33 and the FBM 70 jumped 22.90 points at 12,719.

In terms of sectors, the Financial Services index fell 53.65 points at 16,595.40, the Products and Services index fell 0.33 points at 181.25, the Energy index contracted 7.06 points at 756.85 while the Plantation index rose 8.54 points at 6,815.77.