Muristek
On the broader market, losers surpassed gainers 177 versus 144, while 232 counters were unchanged, 1,696 untraded and 24 others suspended. — Bernama pic
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KUALA LUMPUR, April 18 — Bursa Malaysia opened higher, but retreated thereafter ahead of the release of Malaysia’s trade data for March later today, keeping investors on the sidelines.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slid 4.27 points to 1,584.74 from Friday’s close of 1,589.01.
The barometer index opened 2.63 points firmer at 1,591.64.
On the broader market, losers surpassed gainers 177 versus 144, while 232 counters were unchanged, 1,696 untraded and 24 others suspended.
Total turnover stood at 158.59 million worth RM72.06 million.
Kenanga Investment Bank Bhd, in a note today, said for the holiday-shortened week, the March external trade data are due to be released later today.
“The FBM KLCI is still in a transitory phase and the negative technical momentum is expected to weigh on the bellwether’s performance going forward,” it said.
Meanwhile, Malacca Securities Sdn Bhd said while external risks remained in place, the reopening of borders should continue to bode well for the local economy, especially the aviation and consumer sectors.
“Investors should monitor China’s key economic data, which will be released today, and Malaysia’s inflation rate later this week to gauge the Bank Negara Malaysia’s (BNM) interest rate directions moving forward,” the firm said in a note.
On the commodity markets, it said crude oil traded above US$110 per barrel mark while the crude palm oil (CPO) price was well supported above RM6,300 per tonne.
Among the heavyweights, both Maybank and Public Bank fell two sen to RM8.77 and RM4.65, respectively, Petronas Chemicals lost 10 sen to RM10.22, Press Metal slid nine sen to RM6.43, while IHH Healthcare flat at RM6.40.
Of the actives, Cengild Medical rose 14 sen to 47 sen, Avillion added half-a-sen to 9.5 sen, OCR gained one sen to 12.5 sen, Techna-X flat at 9.5 sen, while Vortex slipped half-a-sen to 18.5 sen.
On the index board, FBMT 100 Index declined 27.35 points to 11,033.99, FBM Emas Index was 15.0 points easier at 11,398.70, FBM Emas Shariah Index contracted 6.83 points to 12,040.74, FBM 70 weakened 24.54 points to 13,756.81, and FBM ACE reduced 5.82 points to 5,780.68.
Sector-wise, the Industrial Products and Services Index fell 0.54 of-a-point to 213.93, the Financial Services Index dipped 39.71 points to 16,596.29, while the Plantation Index bagged 33.38 points to 8,388.65. — Bernama