Selangor Journal

Bursa Malaysia opens cautious after a mixed Wall Street

KUALA LUMPUR, Feb 20 — Trading on Bursa Malaysia was cautious at the opening on Monday, taking the cue from a mixed Wall Street performance last Friday (February 17).

At 9.11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 1.08 points to 1,475.82 from Friday’s close of 1,476.90, after opening 2.65 points weaker at 1,474.25.

Market breadth was negative with losers surpassing gainers 184 to 176, while 261 counters were unchanged, 1,607 untraded and 29 others suspended.

Turnover amounted to 293.58 million units worth RM119.57 million.

In a research note today, Hong Leong Investment Bank said the FBM KLCI may be stuck in an extended sideways consolidation this week awaiting clearer cues from the Budget 2023 presentation and the local ongoing results season in line with the hawkish US Federal Reserve and sluggish ringgit performance.

The investment bank expected support level for the benchmark index at between 1,460.0 and 1,470 with the resistance level at 1,487-1,500 today.

In the meantime, Bursa heavyweight IHH Healthcare added nine sen to RM6.07, DIGI jumped 24 sen to RM4.54, Maybank was down 4 sen at RM8.71, Public Bank was flat at RM4.15 while Petronas Chemicals shed four sen to RM8.24 and Tenaga Nasional slipped six sen to RM9.83.

As for the actives, Ho Wah Genting gained one sen to 15.5 sen, Euro Holdings edged up half-a-sen to 14.5 sen, Hong Seng Consolidated was flat at 18.5 sen, Iris Corp and Luster Industries eased half sen each to 11.5 sen and 9.5 sen.

On the index board, the FBM Emas Index decreased 10.20 points to 10,731.96, the FBMT 100 Index went down 11.63 points to 10,398.61, the FBM Emas Shariah Index slipped 9.24 points to 11,093.24, the FBM 70 Index dipped 32.47 points to 13,492.96 and the FBM ACE Index increased 6.65 points to 5,666.31.

Sector-wise, the Plantation Index widened 21.28 points to 6,858.96, the Energy Index declined 3.88 points to 879.96, the Industrial Products and Services Index eased 1.09 point to 189.43, and the Financial Services Index slipped by 5.11 points to 16,031.11.

— Bernama

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