KUALA LUMPUR: Bursa Malaysia opened decrease right this moment, taking a cue from the unfavourable developments on Wall Street in a single day as a result of escalating stress within the Middle East coupled with persistent inflation within the US as indicated by stronger-than-expected March retail gross sales.
At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.70 factors to 1,539.83 from Monday’s shut of 1,542.53.
The benchmark index opened 1.45 factors simpler at 1,541.08.
On the broader market, decliners led gainers 521 to 92, whereas 266 counters had been unchanged, 1,473 untraded and 11 others suspended.
Turnover amounted to 463.03 million models price RM191.62 million.
Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng mentioned that because of the newest retail gross sales print, the US 10-year Treasury yield ended at virtually a six-month excessive of 4.61%.
Meanwhile, the Dow Jones Industrial Average ended 248 factors decrease on Monday whereas the Nasdaq declined by 290 factors.
“Back house, the FBM KLCI fell to virtually the 1,540 degree yesterday amid a weak regional efficiency attributed to heightened tensions within the Middle East.
“Selling on the native bourse was broad-based as not one of the sectors was spared. In the occasion of prevailing assist on the 1,540 mark is smashed decisively, the following assist is seen at across the 1,520 degree,” he famous.
Thong mentioned the index is predicted to hover throughout the 1,540-1,550 vary right this moment.
Among the heavyweights, Maybank inched down one sen to RM9.64, Tenaga Nasional fell 4 sen to RM11.56, and Petronas Chemicals slipped 5 sen to RM6.75.
Meanwhile, Public Bank and CIMB had been flat at RM4.12 and RM6.58, respectively.
As for the actives, Ingenieur Gudang added 1.5 sen to fifteen.5 sen, TWL trimmed half-a-sen to a few sen, and Dagang NeXchange shed one sen to 40 sen, whereas Harvest Miracle Capital and Hong Seng Consolidated had been flat at 11.5 sen and one sen, respectively.
On the index board, the FBM Emas Index decreased by 42.46 factors to 11,557.74, the FBMT 100 Index fell 35.43 factors to 11,203.63, the FBM Emas Shariah Index declined 49.16 factors to 11,707.42, the FBM ACE Index dropped 37.37 factors to 4,959.10, and the FBM 70 Index erased 115.43 factors to 16,044.42.
Sector-wise, the Financial Services Index decreased 26.131 factors to 17,143.02, the Plantation Index shed 26.38 factors to 7,406.24, the Industrial Products and Services Index inched down 0.97 of-a-point to 182.85, and the Energy Index gave up 3.44 factors to 963.05.
