KUALA LUMPUR: Bursa Malaysia opened in the red on Friday tracking Wall Street's overnight slump over latest economic data that sparked recession fears among investors.
At 9.40am, FTSE Bursa Malaysia (FBM) KLCI was down 0.82 per cent or 13.28 points to 1,610.97 versus Thursday's close of 1,624.25.
The key index opened lower at 1,619.31. The broader market saw losers led gainers 901 to 84 while 271 counters were unchanged. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said FBM KLCI ended slightly lower yesterday as sellers remained very much in the forefront.
"Though surprised, we reckon prevailing unloading can also be attributed to the escalating tension in the middle east amid a regional weakness.
"As such, we believe market undertone may have turned cautious after the sell-off on Wall Street thus anticipate the index to hover within the 1,620-1,630 range today," he said.