Bursa M'sia lower in early trade

August 21, 2015 | By | Reply More

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KUALA LUMPUR: Share prices on Bursa Malaysia opened lower, in early trade, this morning, tracking the overnight fall on Wall Street amid lingeering concerns over China’s slowing economy and uncertainty surrounding the US Federal Reserves’ September rate hike, dealers said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,565.27, down 12.25 points, after opening 13.76 points lower at 1,563.65.

Losers led gainers 288 to 50, while 99 counters remained unchanged, 1,363 untraded and 18 others suspended.

Turnover stood at 114.58 million shares worth RM61.33 million.

Alliance DBS research said given the scenario over the past three days, the market was likely to trade between 1,560 and 1,600 in an attempt to equalise the imbalance in the buying and selling forces created in recent days.

A breakout of the range should dictate the next immediate market direction, it said in a note.

“The analysis of overall market action yesterday also revealed that buying power was stronger than selling pressure, and as such, the FBM KLCI would likely trade above the 1,579.66 level today,” it added.

On the scoreboard, the FBM Emas Index fell 83.88 points to 10,733.93, the FBMT100 Index was down 81.16 points to 10,466.95 and the FBM Emas Syariah Index shed 59.09 points to 11,132.81.

The FBM 70 declined 86.13 points for 11,470.21 and the FBM Ace depreciated 39.73 points to 5,196.62.

On a sectoral basis, the Finance Index tumbled 209.58 points to 14,032.60, the Industrial Index shed 7.58 points for 3,027.46 but the Plantation Index edged up 0.21 of a point to 6,850.35.

Among actives, AirAsia shed 3.5 sen to 97.5 sen, Frontken eased half-a-sen to 18.5 sen while Talam Transform, Sumatec and Daya Material were all flat at six sen, 12 sen and 9.5 sen, respectively.

Among heavyweights, Maybank was down 32 sen at RM8.28, Public Bank fell 14 sen to RM17.74, TNB and Axiata eased six sen each to RM10.34 and RM5.74, respectively, while Maxis was flat at RM6.46.

The physical price of gold as at 9.30am stood at RM149.18 per gramme, up RM2.86 from RM146.32 at 5.00pm yesterday. – Bernama

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