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Bursa mixed, weighed down by selling of selected heavyweights

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KUALA LUMPUR, Aug 9 2019 : Bursa Malaysia opened mixed, with the barometer index weighed down by selling activities in selected heavyweights.  

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.89 points to 1,614.13, after opening 2.72 points easier at 1,613.3.  

On the broader market, gainers led losers 171 to 70, while 142 counters were unchanged, 1,521 untraded and 18 others suspended.

Turnover stood at 929.09 million units worth RM369.85 million.

Kenanga Investment Bank said bearish sentiment remained intact in tandem with uninspiring key technical indicators.

Key support levels can be found at 1,600 and 1,570, should the key index trend lower and conversely, overhead resistance levels can be seen at 1,630 and 1,650, it said in a note today. 

For the heavyweight counters, Sime Darby Plantation shed 11 sen to RM4.59, Axiata fell six sen to RM4.94, MISC eased eight sen to RM7.13 and IOI Corp went down five sen to RM4.23. 

Public Bank jumped 16 sen to RM21.58, TNB gained four sen to RM13.88 while Maybank and Dialog were two sen higher at RM8.64 and RM3.43, respectively. 

For the most active stocks, Excel Force rose two sen to 66.5 sen, Datasonic increased three sen to 82.5 sen, AirAsia X was one sen higher at 21.5 sen, Eduspec and Metronic were flat at 5.5 sen and six sen, respectively, and Ta Win Holdings slipped 1.5 sen to 17 sen.  

 The FBM Ace improved 5.45 points to 4,657.52, the FBM 70 bagged 27.76 points to 14,307.25, the FBM Emas Index shed 3.67 points to 11,436.4, the FBM Emas Shariah Index depreciated 26.86 points to 11,901.15 and the FBMT 100 Index eased 4.92 points to 11,268.48.

Sector-wise,  the Financial Services Index was 30.5 points higher for 15,887.82, the Plantation Index discounted 75.72 points to 6,681.49, and the Industrial Products and Services Index inched down 0.07 of-a-point to 151.54. – Bernama 

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.