KUALA LUMPUR (May 20): Bursa Malaysia extended its weakness in early trade today on the back of weak sentiment due to the hike in new Covid-19 cases yesterday.
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At 9.07am, the benchmark FBM KLCI had eased 1.66 points to 1,578.86 from yesterday’s close at 1,580.52.
The index opened 2.67 points easier at 1,577.85.
On the broader market, losers outpaced gainers 262 to 166, while 252 counters were unchanged, 1,525 untraded and 18 others suspended.
Total volume stood at 380.36 million worth RM228.29 million.
Rakuten Trade Sdn Bhd said the KLCI saw more weaknesses on record high Covid-19 cases and many fear of a more stringent lockdown.
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“Anyhow, we expect the key index to trend within the 1,575-1,585 [range],” it said in a research note.
Among the heavyweights, Malayan Banking Bhd (Maybank) and Public Bank Bhd added two sen each to RM8.30 and RM4.21 respectively, Press Metal Aluminium Holdings Bhd gained one sen to RM5.21, while IHH Healthcare Bhd was flat at RM5.28, Petronas Chemicals Group Bhd (PetChem) declined three sen to RM7.95 and Tenaga Nasional Bhd (TNB) shed two sen to RM9.95.
Of the actives, UCrest Bhd rose 4.5 sen to 37.5 sen, Tanco Holdings Bhd and Focus Dynamics Group Bhd edged up half a sen each to 15 sen and 6.5 sen respectively, Key Asic Bhd was one sen higher at 15.5 sen, while LKL International Bhd eased one sen to 39.5 sen and QES Group Bhd edged down half a sen to 62.5 sen.
On the index board, the FBM Emas Index slipped 11.49 points to 11,482.41 and the FBMT 100 Index discounted 9.59 points to 11,174.22.
The FBM Emas Shariah Index decreased 24.7 points to 12,799.35, the FBM ACE increased 23.77 points to 7,744.91 and the FBM 70 dropped 4.31 points to 14,765.03.
Sector-wise, the Plantation Index appreciated 21.59 points to 6,930.37, the Industrial Products and Services Index inched down 0.42 of a point to 191.52, and the Financial Services Index improved by 23.63 points to 14,896.58.-The Edge Market