KUALA LUMPUR: Bursa Malaysia opened lower across the board, taking its cue from global equities today as concerns over the economic impact of the novel coronavirus (2019-nCoV) outbreak continue to dampen investors’ confidence.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.82 per cent or 12.61 points to 1,531.06 from Friday’s close of 1,531.06.
The benchmark index opened 8.92 points easier at 1,522.14.
On the broader market, losers thumped gainers 505 to 38, with 147 counters unchanged, 1,270 untraded and 21 others suspended.
Turnover amounted to 352.17 million shares worth RM122.05 million.
In a note, Malacca Securities Sdn Bhd said the local equity market is expected to slide lower today with the key index moving towards 1,515 or even the 1,500 level.
“With the downside risk remaining unabated (the coronavirus outbreak), any recovery is expected to be relatively mild with resistance located at the 1,550 level in the interim,” said the stockbroking company.
Among heavyweights, Genting Malaysia dropped eight sen to RM2.94, Petronas Chemicals fell 15 sen to RM6.04, Malaysia Airports declined 16 sen to RM6.58 and Sime Darby Plantation was down 12 sen to RM4.95.
Among actives, Vivocom was flat at two sen, Sapura Energy eased one sen to 23.5 sen and Bumi Armada shed two sen to 33.5 sen.
Top losers, Kesm dipped 75 sen to RM9.37, BAT lost 64 sen to RM11.14 and Oriental Holdings contracted 42 sen to RM6.01.
On the index board, the FBM Emas Index lost 127.50 points to reach 10,762.62, the FBM Emas Shariah Index fell 157.05 points to 11,395.65, the FBMT 100 Index erased 115.31 points to 10,588.28, the FBM 70 was 258.58 points weaker at 13,392.92, and the FBM Ace gave up 161.57 points to 5,215.65.
Sector-wise, the Industrial Products and Services Index inched down 1.95 points to 141.36, the Financial Services Index was 82.89 points easier at 14,699.36 and the Plantation Index slid 121.64 points to 7,021.98. - Bernama