Cautious sentiment weighs on Bursa at opening

Cautious sentiment weighs on Bursa at opening
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KUALA LUMPUR (July 4): Bursa Malaysia opened lower amid cautious sentiment ahead of the interest rate decision in Bank Negara Malaysia's Monetary Policy Committee meeting on July 5 and 6.

At 9.07am on Monday (July 4), the FBM KLCI had eased 1.32 points to 1,448.42 from last Friday's close at 1,449.74.  

The benchmark index opened 0.24 of a point easier at 1,449.50.  

On the broader market, losers led gainers 136 to 107, while 197 counters were unchanged, 1,788 untraded and 14 others suspended.

Turnover stood at 126.12 million units worth RM46.62 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market volatility is expected to remain and the benchmark index to hover within the 1,440-1,460 range on Monday.

Meanwhile, crude palm oil was stagnant at the RM5,090-per-tonne level, while Brent crude ended at almost the US$112 (about RM493.98)-per-barrel mark.

Among the heavyweights, Public Bank Bhd added one sen to RM4.43, while Malayan Banking Bhd (Maybank) and Petronas Chemicals Group Bhd were flat at RM8.62 and RM9.08 respectively. Meanwhile, IHH Healthcare Bhd declined five sen to RM6.43, CIMB Group Holdings Bhd fell one sen to RM5.02 and Petronas Gas Bhd shed four sen to RM16.46.

Of the actives, Reach Energy Bhd edged up half a sen to six sen, Yew Lee Pacific Group Bhd and Unitrade Industries Bhd went up one sen each to 24.5 sen and 28 sen, MMAG Holdings Bhd was flat at 5.5 sen, Top Glove Corp Bhd slipped 1.5 sen to 99.5 sen and Vortex Consolidated Bhd inched down half a sen to 18 sen.

On the index board, the FBM Emas Index trimmed 4.74 points to 10,311.14, the FBM Emas Shariah Index gave up 15.16 points to 10,465.82, the FBM 70 advanced 16.08 points to 12,419.62, the FBM ACE decreased 32.73 points to 4,751.79 and the FBMT 100 Index fell 3.97 points to 10,055.74. 

Sector-wise, the Financial Services Index gained 9.67 points to 16,066.48, the Industrial Products and Services Index was flat at 181.69, and the Plantation Index advanced 4.57 points to 6,929.29.