Bursa Malaysia opens lower

 Publish date: Tue, 16 Nov 2021, 10:12 AM

KUALA LUMPUR: Bursa Malaysia opened lower on Tuesday, tracking the negative sentiment on the overnight Wall Street performance due to concerns over the threat of rising inflation, as well as the United States (US) Federal Reserve's potential withdrawal of stimulus measures.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) erased 2.82 points to 1,519.52 from Monday's close of 1,522.34.
The index opened 0.87 of-a-point easier at 1,521.47.
The broader market was negative as losers edged past gainers 168 to 134, while 254 counters were unchanged, 1,760 untraded, and 45 others suspended. 
In a note today, Malacca Securities Sdn Bhd said that the resumption of business activities and reopening of travel borders bode well for the economy, going forward.
"Investors could find opportunities in recently beaten-down technology and consumer-related counters amidst the earning seasons for bargain hunting opportunities," it said.
The research firm added that the technology sector may also continue to advance, given its bright earning prospects.
Among the heavyweights, Maybank deducted two sen to RM8.08 and Public Bank was flat at RM4.01, while Petronas Chemicals rose one sen to RM8.30.
Of the actives, ARB gained 3.5 sen to 20 sen, MMAG was flat at 10 sen and Ageson fell half-a-sen to five sen.
Top losers were Genetec which shed 22 sen to RM42.02, Hong Leong Bank which shrank 14 sen to RM18 and Tafi Industries which declined 11 sen to RM3.62.
On the index board, the FBM Emas Index decreased 9.56 points to 11,262.19, the FBMT 100 Index lost 13.04 points to 10,892.74, the FBM Emas Shariah Index fell 5.34 points to 12,271.53 and the FBM ACE eased 32.61 points to 6,942.26, while the FBM 70 perked 10.04 points to 14,936.65.
Sector-wise, the Industrial Products and Services Index decreased 0.12 of-a-point to 199.82, the Plantation Index eased 7.33 points to 6,548.31 and the Financial Services Index was 27.17 points lower at 15,128.63.
 - Bernama
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