KUALA LUMPUR (July 13): Bursa Malaysia was lower in early trade on Wednesday (July 13), mirroring the volatile session on Wall Street overnight amid weaker sentiment, a dealer said.
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At 9.10am, the FBM KLCI had declined by 9.94 points to 1,416.14 from Tuesday’s close at 1,426.08. It opened 4.65 points lower at 1,421.43.
On the broader market, losers surpassed gainers 211 to 73, while 180 counters were unchanged, 1,786 untraded and eight others suspended.
Turnover stood at 217.79 million units worth RM75.1 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said US equities ended broadly lower as global investors’ sentiment remained jittery on slower economic growth amid inflationary pressures.
On the home front, he said market undertone continued to be lacklustre in line with the mixed regional market performance, and the KLCI is expected to oscillate in the 1,415-1,430 range on Wednesday.
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“Meanwhile, concerns over demand due to new lockdowns in Shanghai and inflation dampened crude oil prices with Brent crude slumping to below the US$100 (about RM443.60) level,” he told Bernama.
Among the heavyweights, Malayan Banking Bhd (Maybank) fell two sen to RM8.62, Petronas Chemicals Group Bhd was down 10 sen to RM8.18 and IHH Healthcare Bhd stayed flat at RM6.39, while Public Bank Bhd and CIMB Group Holdings Bhd inched down three sen to RM4.37 and RM5.09 respectively.
Of the actives, Infoline Tec Group Bhd gained 1.5 sen to 33.5 sen, Metronic Global Bhd decreased 1.5 sen to 6.5 sen, Reach Energy Bhd lost one sen to three sen, and Hibiscus Petroleum Bhd reduced six sen to 79.5 sen.
On the index board, the FBM Emas Index went down 62.12 points to 10,053.96, the FBM Emas Shariah Index trimmed 74.23 points to 10,082.68, the FBM 70 was 50.39 points lower at 12,054.25, and the FBMT 100 Index contracted 62.35 points to 9,814.81, while the FBM ACE edged up 0.51 of a point to 4,579.02.
Sector-wise, the Financial Services Index declined 57.85 points to 16,030.37, the Industrial Products and Services Index was 1.61 points lower at 168.60, and the Plantation Index weakened 30.71 points to 6,689.22.-BERNAMA