KUALA LUMPUR – Bursa Malaysia opened slightly higher but retreated thereafter as profit-taking started to emerge in selected heavyweights following the recent gains, dealers said.
At 9.28am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 6.53 points to 1,497.91 from yesterday’s close of 1,504.44.
The index opened 0.85 of a point better at 1,505.29.
On the broader market, losers surpassed gainers 354 versus 169, while 318 counters were unchanged, 1,373 untraded and 21 others suspended.
Turnover stood at 553.52 million units worth RM297.07 million.
Serba Dinamik Holdings Bhd saw shares go up in the early session as investors reacted positively to the company’s announcement of new contract wins yesterday.
At 10.05am, the counter emerged as one of the most actively traded stocks, rising 1.5 sen to 41.5 sen with 22.46 million shares changing hands.
The oil and gas service provider, through its Malaysian and Indonesian subsidiaries, has secured 15 operations, with eight of these having a combined estimated value of US$467.7 million (RM1.98 billion).
Meanwhile, the ringgit opened slightly higher against the US dollar today as the greenback retreated after the release of the United States consumer price index (CPI) report confirmed moderating inflation.
The US CPI rose 5.4% year-on-year last month – the highest 12-month rate since 2008, the US Labour Department reported yesterday.
At 9.19am, the local note stood at 4.2370/2400 versus the greenback compared with 4.2380/2420 at yesterday’s close. – Bernama, August 12, 2021
