BURSA MALAYSIA OPENS LOWER

KUALA LUMPUR, Oct 4 (Bernama) -- Bursa Malaysia opened lower today, retreating from yesterday's gains, driven by mild profit-taking in selected heavyweights amid mixed sentiment in regional markets, according to an analyst.

At 9.16 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.41 points to 1,639.14 versus Thursday’s close of 1,641.55. The benchmark index opened 3.06 points lower at 1,638.49.

Market breadth was negative with decliners outpacing advancers 219 to 177, while 309 counters remained unchanged, 1,703 untraded, and 16 suspended.

Turnover stood at 204.34 million units valued at RM105.22 million.

In a note today, Malacca Securities Sdn Bhd said overnight Wall Street ended slightly lower after the release of mixed economic data.

“Jobless claims were rising, but the Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) showed an expansion, and traders seem to be waiting for the non-farm payroll report due later tonight,” it said.

Meanwhile, the ringgit weakened from RM 4.11 to RM 4.21 per US Dollar over the past four trading days. The research firm believed traders may shift focus to export-oriented sectors like technology and gloves.

“However, we continue to favour the consumer sector for its defensive nature. Additionally, the sharp rise in crude oil and crude palm oil (CPO) prices should benefit the oil & gas, and plantation sectors, respectively.

“Investors may also consider a position in the construction, property, building materials, and utilities sectors ahead of Budget 2025,” it said.

Among the heavyweights, Maybank slipped 4.0 sen to RM10.50, Public Bank went down 1.0 sen to RM4.56, CIMB Group shed 2.0 sen to RM7.97, Tenaga Nasional was flat at RM14.28 while IHH Healthcare added 2.0 sen to RM7.26.

On the active counters, OCR Group declined 1.0 sen to 3.5 sen, while SC Estate, DNex and Alam Maritim earned half-a-sen each to 1.5 sen, 37.5 sen and 3.0 sen, respectively.

On the index board, the FBM Emas Index decreased by 5.81 points to 12,263.96, while the FBM Emas Shariah Index reduced 1.37 points to 12,180.03.

The FBMT 100 Index trimmed 7.31 points to 11,955.98 and the FBM 70 Index climbed 27.71 points to 17,323.94, while the FBM ACE Index earned 0.65 of-a-point to 5,116.40.

Sector-wise, the Financial Services Index shaved 36.12 points to 19,224.93, the Energy Index advanced 30.59 points to 888.40, the Plantation Index gave up 8.77 points to 7,172.80, and the Industrial Products and Services Index rose 0.22 of-a-point to 177.04.

-- BERNAMA