Business

KLCI eases slightly at opening

It drifts lower after a lack of sustained buying interest

Updated 3 years ago · Published on 21 Sep 2020 11:00AM

KLCI eases slightly at opening — The FBM KLCI loses its edge after today’s opening on a lack of sustained buying interest. – AFP file pic, September 21, 2020

KUALA LUMPUR – Bursa Malaysia opened higher but drifted lower thereafter on a lack of sustained buying interest.

At 9.30am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.77 of-a-point to 1,505.86 from Friday’s close of 1,506.63.

The index opened 3.79 points higher at 1,511.77.

Losers led gainers 315 to 307, while 369 counters were unchanged, 1,093 untraded and 39 others suspended.

Total volume stood at 1.23 billion units worth RM495.54 million.

Malacca Securities said the consolidation on the local bourse is expected to take shape over the foreseeable future amid the lack of fresh leads.

“Still, we believe that the movements of glove heavyweights will continue to dictate the direction on the key index.

“Elsewhere, we see rotational play among the lower liners to stand pat amid the positive market breadth, whilst retail players continue to seek higher yield investments,” it said in a note today.

Among the heavyweights, Maybank added two sen to RM7.23, Top Glove gained three sen to RM8.01, TNB increased 10 sen to RM11, Public Bank went up six sen to RM16, while Sime Darby Plantation was flat at RM5.03.

Hartalega shed 16 sen to RM14, IHH Healthcare declined seven sen to RM5.26, Petronas Chemicals fell three sen to RM5.57 and Maxis slipped four sen to RM5.10.

Of the actives, Metronic was two sen higher at 10 sen, Sapura Energy added one sen to 12.5 sen, CME Group advanced 1.5 sen to 13 sen, while Technodex was flat at 18.5 sen, HB Global decreased one sen to 20 sen and Kanger International inched down half-a-sen to 29.5 sen.

On the index board, the FBM Emas Index fell 2.8 points to 10,834.82 and the FBM Emas Shariah Index slid 13.54 points to 12,823.53.

The FBM 70 rose 2.8 points to 14,034.83, the FBMT 100 Index gave up 3.53 points to 10,648.21 and the FBM ACE leaped 97.59 points to 11,159.13.

Sector-wise, the Financial Services Index eased 5.6 points to 12,563.75, the Plantation Index improved 39.96 points to 7,191.91 and the Industrial Products and Services Index edged up 0.04 of-a-point to 136.74. – Bernama, September 21, 2020