KUALA LUMPUR: Bursa Malaysia opened in negative territory as sentiment turned cautious amid the rising treasury yields and crude oil prices.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.90 points to 1,630.39 versus Monday's close of 1,635.29.
The benchmark index opened 3.66 points weaker at 1,631.63.
Market breadth was negative with decliners leading gainers 175 to 109, while 260 counters remained unchanged, 1,879 untraded, and six suspended.
Turnover stood at 190.08 million units valued at RM71.61 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market undertone remains cautious as illustrated by the low daily volume traded at below 2.8 billion shares yesterday.
Thong said the firm noticed the index is still consolidating within the 1,630-1,680 range and needs to break the 1,680 level decisively before the upward trajectory resumes towards the 1,700 mark. "Despite the lack of catalysts currently, we hope recent strong performance of the crude palm oil (CPO) price may attract some interest in the planters hence expect the index to hover within the 1,635-1,645 range today," he said.
Of actives, Hong Leong Industries Bhd rose 20 sen to RM14, Panasonic Malaysia Bhd gained 16 sen to RM18.40 and Carlsberg Brewery Malaysia Bhd added 14 sen to 19.66.Ends