KUALA LUMPUR: Bursa Malaysia opened in negative territory, reflecting concerns over the escalating tension in the Middle East.
At 9.38am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.52 points to 1,639.03. It closed at 1,641.55 on Thursday. The benchmark index opened 3.06 points lower at 1,638.49.
Market breadth was negative with decliners outpacing advancers 353 to 245, while 350 counters remained unchanged.
Turnover stood at 645.1 million units valued at RM268.2 million.
Rakuten Trade equity research vice president Thong Pak Leng said there are concerns over the escalating tension in the middle east coupled with September's payroll report due later today.
Thong said the FBM KLCI closed slightly higher yesterday, attributed to late buying activities paring earlier losses.
"Nonetheless, we believe the index remains stuck within a consolidation phase hence expect it to hover within the 1,640-1,650 range today. "Meanwhile, crude palm oil (CPO) trended higher at around RM4,200 per tonne due to higher crude oil prices and a weaker MYR which currently pegs at RM4.23/US$1," he said.
On actives, OCR Group Bhd slid 22.22 per cent, or one sen to 3.5 sen and MyEG Services Bhd rose one sen to 89 sen from its previous close of 88 sen.
Among the gainers, Hengyuan Refining Bhd rose 24 sen to RM2.59, Hong Leong Financial Group Bhd gained 18 sen to RM19.24 and Petronas Dagangan Bhd added 16 sen to RM18.10.Ends