Bursa Malaysia Opens Lower, CI Down 2 Pts

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KUALA LUMPUR, Sept 21 – Bursa Malaysia opened in the red today on weaker buying support as caution was heightened ahead of the US Federal Open Market Committee and Bank of Japan meeting for the coming few days. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.0 points weaker at 1,653.78, against yesterday’s close of 1,655.78, after opening 2.06 points lower at 1,653.72 this morning.

However, gainers outpaced losers 76 to 60 while 146 counters were unchanged, 1,408 untraded and 20 others suspended. Turnover stood at 55.8 million shares worth RM27.29 million. On the technical front, Kenanga Research said downside pressure was still persisting with the FBM KLCI currently finding some footing at the 1,643 and 1,650 levels. 

“Unless there is a positive surprise from the ongoing US FOMC meeting or upcoming Bank of Japan policy decision meeting, the FBM KLCI is expected to continue on its volatile trade between 1,643 and 1,662 this week,” it said in a note. Of the heavyweights, TNB and Maybank were flat at RM14.40 and RM7.80, respectively, Public Bank added two sen to RM19.58 and IHH shed three sen to RM6.55.

Among actives, Inix Technologies added half-a-sen to 9.5 sen, Lion Diversified lost half-a-sen to 5.5 sen, MYEG increased eight sen to RM2.34 and Parkson inched up 1.5 sen to 80 sen. The FBM Emas Index decreased 7.25 points to 11,672.36, the FBMT 100 Index declined 9.39 points to 11,373.39 and the FBM Emas Syariah Index lost 14.76 points to 12,300.02.

The FBM 70 improved 4.68 points to 13,625.76, the Plantation Index rose 5.22 points to 7,840.34 and the FBM Ace was 34.76 points lower at 5,207.54. The Finance Index added 13.54 points to 14,243.33 and the Industrial Index was 7.2 points lower at 3,091.9.

Gold futures contracts on Bursa Malaysia Derivatives were untraded as at 9.50am on lack of catalysts. September 2016, October 2016, November 2016 and December 2016 were pegged at RM175.10, RM175.10, RM176.75 and RM176.75 a gramme, respectively. Volume was nil with open interest amounting to 261 contracts. At 9.30am, physical gold was two sen better at RM169.45 a gramme. — Bernama

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