At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 2.73 points to 1,471.86 from Friday’s close of 1,474.59.
The key index opened 0.13 points better at 1,474.72.
The market breadth was negative with losers surpassing gainers 246 to 153, while 317 counters were unchanged, 1,459 were not traded and nine others were suspended.
Turnover amounted to 153.85 million units worth RM473.42 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street ended on a mixed note last Friday as traders pondered over the US Federal Reserve’s next move amid various mixed economic signals.
The Dow Jones Index Average rose by 169 points, but the Nasdaq lost 71 points as the US Treasury 10-year yield inched higher above the 3.74% mark.
Back home, broad-based bargain hunting finally emerged on the local bourse last week as investors snapped up banking and energy-related stocks.
“However, we reckon trading activities may turn cautious following Wall Street’s mixed performance, hence we expect the index to hover within the 1,470 to 1,480 range today,” Thong told Bernama.
He also expects tech-related counters to face some headwinds today on higher US treasury rates.
As for commodities, despite improved output from the US, the crude oil price had increased with Brent crude edging above US$86 per barrel.
Meanwhile, Bursa heavyweights Maybank gained two sen to RM8.77 and CIMB added three sen to RM5.40, while both Tenaga Nasional and IHH Healthcare lost three sen each to RM9.74 and RM5.87 respectively, and Petronas Chemicals slid seven sen to RM8.18.
As for the actives, Iris and MYEG both slipped 1.5 sen each to 12 sen and 59.5 sen respectively, Zen Tech and its warrant decreased half-a-sen each to three sen and 1.5 sen respectively, while Sapura Energy increased half-a-sen to five sen.
On the index board, the FBM Emas Index declined 22.38 points to 10,717.66, the FBMT 100 Index eased 20.39 points to 10,385.34, the FBM 70 Index reduced 31.30 points to 13,538.68, the FBM Emas Shariah Index lost 36.92 points to 11,009.49 and the FBM ACE Index was 46.64 points lower at 5,697.36.
Sector-wise, the plantation index slid 4.62 points to 6,882.03, the industrial products and services index eased 1.23 points to 188.92 and the energy index lost 4.60 points to 891.77, while the financial services index edged up 19.35 points to 16,132.72.
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