KUALA LUMPUR – Bursa Malaysia opened easier this morning on cautious market sentiment, with selling mostly seen among heavyweights, led by Axiata and Digi.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI erased 4.01 points to 1,608.24 from Friday’s close of 1,612.25.
The index opened 1.71 points weaker at 1,613.96.
On the broader market, gainers led losers 261 to 233, while 1,051 counters were unchanged, 612 untraded and nine suspended.
Total volume stood at 953.78 million shares worth RM458.18 million.
A dealer said Axiata and Digi are in a sell-off mode today, as optimism over a merger between the two telco giants subsides.
Digi fell 18 sen to RM4.28, while Axiata contracted 13 sen to RM3.98, dragging the composite index down by a combined 4.95 points.
Meanwhile, the ringgit opened flat against the United States dollar amid higher US bond yields and “finicky” crude prices.
At 9.01am, the local currency stood at 4.1330/1380, unchanged against 4.1330/1370 at the close on Friday.
“The ringgit remains stuck in a channel, trapped between higher US yields and finicky crude oil prices,” said Axi chief global markets strategist Stephen Innes. – Bernama, April 12, 2021
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