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Bursa opens mixed despite better Wall Street performance

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 1 2018 : Bursa Malaysia opened mixed today, despite the higher overnight performance of Wall Street and due to an overbought correction, said a dealer. 

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.30 points weaker at 1,778.95 from yesterday’s close of 1,784.25.

The index opened 6.40 points lower at 1,777.85.

On the broader market, gainers led losers 150 to 82 with 159 counters unchanged, 1,486 untraded and 18 others suspended.

Volume stood at 105.49 million units valued at RM50.04 million.

Public Investment Bank Bhd in a research note said the FBM KLCI may turn to a positive bias, supported by reports that the United States and China were making efforts at restarting trade talks. 

On Wall Street, the S&P 500 rose 0.5 per cent to 2,816.29, with the Dow Jones Industrial Average up 0.43 per cent to 25,415.19 and the Nasdaq rising 0.6 per cent to 7,671.79.

Meanwhile, Kenanga Investment Bank Bhd said the outlook for the benchmark index was positive-bias and expected a continuation towards the next resistance at 1,790 and 1,830 further up, with support levels at 1,720 and 1,700.

Of heavyweights, Maybank fell two sen to RM9.79, Public Bank was flat at RM24.06, while Petronas Chemicals and CIMB each added two sen to RM8.95 and RM5.86 respectively.

Leading the top losers, Tenaga slid 46 sen to RM15.22, United Plantations gave up 32 sen to RM26.68 and IOI Corp slid 12 sen to RM4.50. 

Among actives, Nova MSC added half-a-sen to 19 sen, Opcom increased eight sen to RM1.02 and MYEG rose two sen to RM1.26. 

Of the top gainers, Petronas Gas improved 34 sen to RM19.08, Perusahaan Sadur Timah perked 26 sen to RM5.10 and Globetronics increased nine sen to RM2.59. 

The FBM Emas Index was 23.87 points lower at 12,609.28, the FBMT 100 Index slipped 27.15 points to 12,392.94 and the FBM Emas Shariah Index decreased 42.81 points to 12,767.94. 

The FBM 70, however, gained 2.60 points to 15,518.54 and the FBM Ace Index improved 17.03 points to 5,417.29.

Sector-wise, the Plantation Index shed 43.55 points to 7,585.67 and the Finance Index fell 6.11 points to 17,423.71.But, the Industrial Index was up 13.93 points to 3,289.69. – Bernama

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Syndicated News

Syndicated News

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