BURSA Malaysia opened lower today on profit-taking after its strong closing on Tuesday, tracking the overnight global stock markets’ decline after strong US’ jobs data fuelled concerns over aggressive monetary policy tightening, dealer said. 

At 9.08am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 15.14 points to 1,496.91 from Tuesday’s close of 1,512.05. 

The benchmark index opened 14.04 points lower at 1,498.01.

Bursa Malaysia and its subsidiaries were closed yesterday for the National Day holiday.

On the broader market, losers outpaced gainers 286 to 96, while 216 counters were unchanged, 1,690 untraded and 20 others suspended.

Turnover stood at 232.37 million units worth RM134.28 million.

In a note, Malacca Securities Sdn Bhd said although Bursa Malaysia’s key index managed to trade positively on Tuesday, investors should remain cautious of the ongoing volatility in global stock markets due to the US Federal Reserve’s (Fed) hawkish tone.

“We expect the noise to continue until the next Consumer Price Index data release and the Federal Open Market Committee meeting,” the brokerage firm said.

On commodities, it noted that crude oil price trended lower at around US$96 (RM430.08) per barrel due to fears over the global economic slowdown, while crude palm oil price hovered above RM4,100.

“As for sectors in focus, the technology sector should see some selling pressure as the Nasdaq fell below the key 12,000-level, and investors may take profit in the energy sector as crude oil price slumped amid worries over softer demand.

“Nevertheless, stocks with solid earnings will be in focus, at least for the near term,” it added.

Among the heavyweights, Malayan Banking Bhd shed four sen to RM8.93, Public Bank Bhd slipped six sen to RM4.65 and Petronas Chemicals Group Bhd fell 15 sen to RM8.65. 

CIMB Group Holdings Bhd added three sen to RM5.40, while IHH Healthcare Bhd was flat at RM6.20.

Of the actives, Hibiscus Petroleum Bhd eased four sen to RM1.02 and UMedic Group Bhd added 1.5 sen to 69 sen, while MNC Wireless Bhd, Serba Dinamik Holdings Bhd and TA Win Holdings Bhd were flat at one sen, three sen and seven sen, respectively.

On the index board, the FBM Emas Index decreased 99.98 points to 10,597.67, the FBM T100 Index declined 100.44 points to 10,348.99, the FBM 70 slipped 105.26 points to 12,607.18, the FBM ACE went down 56.42 points to 4,854.02 and the FBM Emas Shariah Index fell 122.24 points to 10,691.22. 

Sector-wise, the Plantation Index was 39.32 points lower at 7,154.35, the Industrial Products and Services Index eased 2.18 points to 180.02, the Energy Index shed 11.59 points to 716.95 and the Financial Services Index dropped 101.68 points to 16,700.24. — Bernama / pic MUHD AMIN NAHARUL