Bursa Malaysia opens lower

Dec 14, 2016
Bursa Malaysia
Bursa Malaysia

Bursa Malaysia pared earlier gains to open lower in early trade, with investors nervous over the US Federal Reserve raising interest rates today, dealers said.

At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.37 of-a-point lower at 1,644.91 from 1,645.28 yesterday. It opened 0.81 of-a-point higher at 1,645.72.

A dealer said higher interest rates means investors would shift their money into US dollar-denominated assets.

On the broader market, gainers led losers 123 to 79, while 165 counters remained unchanged, with 1,331 untraded and 31 others suspended.

Turnover stood at 85.21 million shares worth RM59.80 million.

Regional markets were a mixed bag as investors displayed caution ahead of the two-day US Federal Reserve meeting which started yesterday.

The FBM Emas Index eased 4.29 points to 11,506.05 and the FBMT100 Index declined 6.0 points to 11,238.45.But, the FBM Emas Shariah Index rose 8.39 points to 12,060.47.

The FBM 70 was down 19.64 points to 13,196.84 and the FBM Ace added 12.09 points to 4,738.74.

Sector-wise, the Plantation Index bagged 32.69 points to 7,785.24, but the Industrial Index shed 9.85 points to 3,116.83 and the Finance Index decreased 28.24 points to 14,376.01.

Of the heavyweights, Maybank eased one sen to RM7.93, Public Bank fell six sen to RM19.64, while TNB was flat at RM14.06 and Petronas Chemicals gained six sen to RM6.95.

Of the actives, Kuantan Flour rose 12 sen to 20 sen, Bioalpha edged up 1.5 sen to 21.5 sen. However, Hibiscus and KNM Group were each flat at 32 sen and 33.5 sen respectively. — Bernama