KUALA LUMPUR – Bursa Malaysia was lower in early trade today as fresh worries over the Covid-19 Omicron variant-led restriction and bearish Wall Street dragged down global markets.
At 9.25am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.66 points to 1,500.13 compared to 1,501.79 at yesterday’s close.
The market bellwether opened 0.14 of-a-point lower at 1,501.65.
On the broader market, losers outpaced gainers 244 to 161, while 280 counters were unchanged, 1,620 untraded and 52 others suspended.
Turnover stood at 338.56 million units valued at RM159.98 million.
Malacca Securities Sdn Bhd said concerns over the Omicron variant still persist as the United Kingdom implemented new restrictions to prevent a spike in Covid-19 cases.
“Nevertheless, we believe window-dressing activities may emerge in the near future on heavyweights.
“On the commodity markets, oil price fell 1.85% but hovering above US$74 (RM312.35), while the crude palm oil market extended losses,” it said in a note.
It said the transportation sector may capture traders’ attention on the back of recovering market demand in line with the increasing tone on Baltic Exchange Dry Index.
Among heavyweights, Press Metal declined seven sen to RM5.45, Axiata lost three sen to RM3.81, Nestle was 90 sen weaker at RM131.40, Public Bank eased one sen to RM3.98, and Digi down two sen to RM4.10.
However, MR DIY rose five sen to RM3.55 and IHH gained two sen to RM6.59.
Of the actives, Malaysian Genomics trimmed 13 sen to 69 sen, Industronics and Widad were half-a-sen higher at 13.5 sen and 38.5 sen, respectively, Impiana Hotels and Iconic Worldwide improved one sen each to 10 sen and 33 sen, respectively, while Fintec Global was flat at one sen.
On the index board, the FBM Emas Index reduced 11.33 points to 10,940.50, the FBMT 100 Index inched down 13.46 points to 10,641.12, and the FBM Emas Shariah Index decreased 9.63 points to 11,831.76.
The FBM 70 fell 24.57 points to 14,150.91 and the FBM ACE weakened by 29.93 points to 6,252.15.
Sector-wise, the Industrial Products and Services Index shed 0.92 of-a-point to 193.41, the Financial Services Index slid 13.46 points to 15,151.67, while the Plantation Index improved 9.00 points to 6,504.00. – Bernama, December 10, 2021
