KLCI opens marginally lower ahead of 2Q GDP announcement

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KUALA LUMPUR (Aug 12): Bursa Malaysia was easier in early trade on Friday (Aug 12), as profit-taking activities emerged following a strong closing on Thursday, with investors staying on the sidelines ahead of the second-quarter gross domestic product (2Q GDP) announcement due later.


At 9.05am, the FBM KLCI had eased 0.12 of a point to 1,505.44, from 1,505.56 at Thursday’s close.

The benchmark index opened 0.49 point weaker at 1,505.07.

On the broader market, losers led gainers 189 to 105, while 189 counters were unchanged, 1,855 untraded, and 24 others suspended.

Turnover stood at 98.91 million units worth RM47.92 million.

Rakuten Trade vice-president of equity research Thong Pak Leng said the KLCI would continue with its uptrend, after it decisively broke the 1,500-mark on Thursday.

“We anticipate the index to trend within the 1,500-1,515 range today (Friday), as the market undertone improves.


“Meanwhile, we noticed buying is returning for logistic-related companies, as many performed rather strongly of late,” he said.

Among the heavyweights, Malayan Banking Bhd (Maybank) gained two sen to RM8.96, CIMB Group Holdings Bhd added one sen to RM5.38 and Hong Leong Bank Bhd added one sen as well to RM20.88, while Public Bank Bhd was flat at RM4.65 and IHH Healthcare Bhd also flat at RM6.48.

However, Petronas Chemicals Group Bhd shed two sen to RM8.76. Tenaga Nasional Bhd (TNB) also lost two sen to RM8.56.

Of the actives, Theta Edge Bhd bagged two sen to 98 sen and Hibiscus Petroleum Bhd, too, rose two sen to 86 sen, Bintai Kinden Corp Bhd was flat at 10 sen and G3 Global Bhd also flat at three sen, while Unique Fire Holdings Bhd slipped one sen to 24.5 sen.

On the index board, the FBM Emas Index trimmed 0.03 of a point to 10,683.01, the FBMT 100 Index shed 5.11 points to 10,426.12, the FBM Emas Shariah Index declined 10.24 points to 10,799.87, the FBM 70 lost 23.44 points to 12,774.51, and the FBM ACE decreased 19.76 points to 4,929.34.

Sector-wise, the Financial Services Index rose 35.96 points to 16,811.98, the Plantation Index went up 2.04 points to 7,158.29, the Energy Index picked up 1.84 points to 660.76, and the Industrial Products and Services Index slid 0.4 point to 183.62.-BERNAMA

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