Bursa Malaysia opens lower depsite Wall Street's positive performance
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.85 points to 1,539.42 from last Friday’s close of 1,547.27.
Bursa Malaysia opened lower today even though Wall Street posted gains last Friday, following the United States (US) Federal Reserve chair Jerome Powell's speech highlighting a robust economic outlook despite concerns over elevated inflation amid new trade policies.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.85 points to 1,539.42 from last Friday's close of 1,547.27.
The benchmark index opened 1.69 points easier at 1,545.58.
On the broader market, losers surpassed gainers 184 to 126, with 275 counters unchanged, 1,797 untraded and 15 suspended.
Turnover stood at 209.58 million shares worth RM93.62 million.
Malacca Securities Sdn Bhd said that despite Wall Street's positive performance last Friday, the European and Asian markets closed in the red.
"This week, traders will keep an eye on the US job openings and labour turnover survey; US inflation data; US producer price index; US unemployment claims; preliminary University of Michigan (UoM) consumer sentiment; and preliminary UoM inflation expectations," it said.
Among heavyweights, IHH Healthcare added four sen to RM7.30, Maybank decreased 10 sen to RM10.54, Public Bank slid three sen to RM4.52, CIMB erased two sen to RM7.50, and Tenaga Nasional was 20 sen lower at RM13.54.
As for actives, SNS Network Technology gained 2.5 sen to 43 sen, Sapura Energy inched down half-a-sen to three sen, while NexG, My EG Services and Elridge Energy Holdings were flat at 27 sen, 90 sen and 47.5 sen, respectively.
On the index board, the FBM Emas Index slipped 41.88 points to 11,478.92, the FBMT 100 Index weakened 45.04 points to 11,250.51, the FBM Emas Shariah Index declined 41.21 points to 11,138.74, the FBM 70 Index gave up 16.0 points to 16,326.47, and the FBM ACE Index trimmed 9.95 points to 4,577.84.
By sector, the Industrial Products and Services Index edged down 0.32 of-a-point to 154.91, the Energy Index shaved 0.04 of-a-point to 715.0, and the Financial Services Index reduced 87.53 points to 18,979.15, but the Plantation Index rose 6.16 points to 7,486.24.
Read More: Here