KUALA LUMPUR – Bursa Malaysia opened mixed today as cautious sentiment dominates the market tone, with investors digesting positive corporate earnings recorded in the fourth quarter of 2020.
While this signals a global economic recovery, analysts said Asian stocks are likely to retreat today after a decline in technology and retail shares weighed on United States benchmarks.
On Tuesday, technology giants Alphabet and Amazon posted strong gains, leading the local technology index to register 3.2% gains.
At 9.01am today, the benchmark FTSE Bursa Malaysia KLCI slipped 1.49 points to 1,581.50 from 1,582.99 at yesterday’s close.
The index opened 0.89 points better at 1,582.10.
On the broader market, gainers thumped losers 232 to 92, while 230 counters were unchanged, 1,576 untraded and 11 suspended.
Total volume stood at 248.88 million units worth RM73.35 million. – Bernama, February 4, 2021
