KUALA LUMPUR: Bursa Malaysia opened mixed on Monday, taking its cue from Wall Street’s mixed performance last Friday due to varied sentiments as the United States (US) Federal Reserve (Fed) kept the federal funds rate unchanged at 5.25-5.50 per cent for the fifth straight meeting.
At 9.11 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.61 points to 1,538.78 from Friday’s close of 1,542.39. The benchmark index opened 2.16 lower at 1,540.23.
On the broader market, gainers led decliners 233 to 192, while 333 counters were unchanged, 1,577 untraded and 37 suspended.
Turnover amounted to 303.92 million units worth RM119.48 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that Wall Street closed mixed last Friday due to negative sentiments after the Fed kept the federal funds rate unchanged.
“The Dow Jones Industrial (DJI) Average lost 305 points, but the Nasdaq was up 27 points with the US Treasury 10-year yield easing to 4.202 per cent.
“Due to the uncertainty on Wall Street, we believe trading on the local bourse would be stuck in a tight range of between 1,535 and 1,545 today,” he said to Bernama.
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Among the heavyweights, Maybank declined 2.0 sen to RM9.57 and Tenaga Nasional weakened 8.0 sen to RM11.48, while CIMB Group and Petronas Chemical added 3.0 sen each to RM6.58 and RM6.82, respectively, and Public Bank was flat at RM4.24
For the actives, Velestro Energy, Prolintas Infra and Advance Information added 1.5 sen each to 30 sen, 96.5 sen and 9.5 sen, respectively, and Kinergy Advancement added half-a-sen to 36.5 sen, while Pelikan International slid 4.0 sen to 2.25 sen.
On the index board, the FBM Emas Index reduced by 10.36 points to 11,544.74 and the FBMT 100 Index was 14.73 points lower at 11,189.45, while the FBM Emas Shariah Index declined by 19.14 points to 11,632.84.
The FBM 70 Index jumped 26.55 points to 15,997.25, and the FBM ACE Index perked 9.21 points to 4,865.55.
Sector-wise, the Industrial Products and Services Index inched up 0.10 of-a-point to 178.83, the Energy Index expanded 3.77 points to 938.11, and the Financial Services Index gained 11.63 points to 17,200.51, while the Plantation Index lost 24.04 points to 7,312.63.
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