Bursa opens lower in line with weaker Wall Street performance

Estimate Reading Time: 2 minutes

KUALA LUMPUR (Sept 22): Bursa Malaysia opened lower today in line with the weaker Wall Street overnight performance.


At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.72 points or 0.44 per cent to 1,523.72 from Tuesday’s close of 1,530.44.

It opened 5.81 points lower at 1,524.63.

Market breadth was negative with losers outpacing gainers 268 to 168, while 266 counters were unchanged, 1,570 untraded and five others suspended.

Turnover stood at 302.50 million units worth RM168.91 million.

In a research note today, Malacca Securities Sdn Bhd said a mild extension of yesterday’s rebound might be seen in selected sectors today as the government has proposed three more holiday destinations to be reopened under the domestic tourism bubble following the declining number of active COVID-19 cases.

“The proposal of three more destinations under the domestic tourism bubble, which signals a further reopening of economy, may bode well for the recovery theme sectors such as aviation, tourism and consumers.


“Meanwhile, in view of the technology sector’s positive momentum, we expect buying interest to extend at least for the near term,” the brokerage said.

On Tuesday, Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri announced that Genting Highlands, Melaka and Tioman Island will join Malaysia’s travel bubble and may reopen to welcome visitors beginning Oct 1.

On the local bourse, heavyweights Maybank and TNB gained five sen each to RM8.10 and RM9.87, respectively, while Public Bank was flat at RM4.02, Petronas Chemicals shed five sen to RM7.91 and IHH Healthcare shed three sen to RM6.57.

Of the actives, Tanco rose one sen to 25 sen, Bintai Kinden appreciated 4.5 sen to 61.5 sen, Kejuruteraan Asastera was two sen higher at 39.5 sen, Fintec was flat at two sen and Serba Dinamik edged down half-a-sen to 36 sen.

On the index board, the FBM Emas Index weakened 38.66 points to 11,183.74, the FBMT 100 Index was 38.68 points lower at 10,893.10, the FBM Emas Shariah Index decreased 30.13 points to 12,167.75, the FBM 70 trimmed 16.19 points to 14,821.31, and the FBM ACE declined 18.43 points to 6,977.19.

Sector-wise, the Plantation Index fell 23.83 points to 6,260.99, the Industrial Products and Services Index added 0.02 of-a-point to 196.50, and the Financial Services Index trimmed 121.08 points to 15,133.12. -BERNAMA -The Edge Markets