KUALA LUMPUR, Jan 24 — Bursa Malaysia was lower on Monday, tracking the easier performance of its regional peers, dealers said.
At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.89 points to 1,523.17 from 1,527.06 at Friday’s close.
The benchmark index opened 5.34 points lower at 1,521.72.
Market breadth was negative with losers leading gainers 427 to 281, while 348 counters were unchanged, 1,213 untraded and 11 others suspended.
Turnover stood at 1.26 billion units worth RM618.89 million.
Malacca Securities Sdn Bhd said as the crude palm oil (CPO) price movement is on an uptrend and crude oil holding strong above US$85 per barrel, traders may look out for commodity-related stocks.
“Plantation and energy sectors should do well under this environment. Besides, we expect bargain hunting activities in technology stocks as they are steeply oversold,” it said in a note today.
Among the heavyweights, Maybank slid three sen to RM8.25, Public Bank was two sen lower at RM4.16, Petronas Chemicals was flat at RM8.89, IHH was down nine sen to RM6.48, CIMB dropped four sen to RM5.26, while Tenaga added three sen to RM9.13.
Of the actives, both TWL and Dagang NeXchange eased half-a-sen to six sen and 98 sen, respectively, while Coraza gained 14 sen to 80 sen.
On the index board, the FBM ACE decreased 3.60 points to 6,120.92, while the FBM Emas Index weakened 21.69 points to 10,937.56, the FBMT 100 Index slipped 23.23 points to 10,642.22, the FBM Emas Shariah Index slipped 6.30 points to 11,654.90, and the FBM 70 narrowed 10.24 points to 13,464.59.
Sector-wise, the Financial Services Index dipped 68.74 points to 15,707.87, the Industrial Products and Services Index improved 0.08 of-a-point to 200.91, and the Plantation Index added 9.80 points to 6,709.08. — Bernama
