Bursa Malaysia lower in early trade

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KUALA LUMPUR (Jan 6): Bursa Malaysia opened lower on Friday (Jan 6), taking its cue from the weaker Wall Street performance overnight.

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At 9.33am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 1.09 points to 1,479.84 from Thursday’s closing of 1,480.93.

The market bellwether opened 1.4 points weaker at 1,479.53.

On the broader market, losers surpassed gainers 264 to 166, while 291 counters were unchanged, 1,489 untraded and nine others suspended.

Turnover amounted to 628.44 million units worth RM268.24 million.

In a note on Friday, Malacca Securities Sdn Bhd said while the reopening of China’s borders may continue to stimulate economic activities, stock markets may remain volatile since recessionary concerns could remain the top agenda as the release of the strong US job data overnight may lead to a further interest rate hike.

“Meanwhile, as we anticipate renewable energy and electric vehicle (EV) policies to be crafted in the upcoming Budget 2023, the solar and EV segments may gain traction.

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“Additionally, given the renewed worries on the Covid-19 situation in China, buying interest has returned to glove-related counters and the share price uptrend could extend for another session, while the technology sector may turn lower, tracking overnight losses on Wall Street,” the brokerage firm said.

Among the heavyweights, IHH Healthcare Bhd rose three sen to RM6.04, Digi.Com Bhd added one sen to RM3.87, and Hong Leong Bank Bhd gained four sen to RM20.38, while Malayan Banking Bhd (Maybank) was flat at RM8.78, Public Bank Bhd was unchanged at RM4.30, Petronas Chemicals Group Bhd shed six sen to RM8.34, and Tenaga Nasional Bhd (TNB) slipped six sen to RM9.39.

As for the actives, ACE Market debutant DS Sigma Holdings Bhd surged 12.5 sen to 67.5 sen, Zen Tech International Bhd rose half-a-sen to three sen, Citaglobal Bhd gained half-a-sen to 36 sen, and Revenue Group Bhd increased 2.5 sen to 51 sen, while Hong Seng Consolidated Bhd fell 1.5 sen to 15.5 sen, and Top Glove Corp Bhd inched down half-a-sen to 90.5 sen.

On the index board, the FBM Emas Index discounted by 8.53 points to 10,626.44, the FBMT 100 Index reduced by 9.23 points to 10,339.11, and the FBM Emas Shariah Index narrowed by 9.31 points to 10,825.24.

The FBM 70 Index slid 18.38 points to 13,037.72, and the FBM ACE Index eased 2.4 points to 5,369.9.

Sector-wise, the Financial Services Index went down 2.83 points to 16.421.53, and the Industrial Products and Services Index trimmed 0.84 of-a-point to 181.02, while the Plantation index earned 7.52 points to 6,972.33, and the Energy Index garnered 2.57 points to 776.45.-BERNAMA


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