Market News

KLSE Market Today's Opening Bell- How Market Will React Today

 

KUALA LUMPUR (May 17): Bursa Malaysia resumed trading on a mixed pattern today, with the key index higher, lifted by a positive Wall Street performance last Friday. 

At 9.07 am, the benchmark FBM KLCI had gained 4.84 points to 1,587.36 from last Wednesday’s close at 1,582.52.

The index opened 5.03 points weaker at 1,577.49.

On the broader market, losers outpaced gainers 380 to 172, while 304 counters were unchanged, 1,329 untraded and five others suspended.

Total volume stood at 545.76 million worth RM229.85 million.

Malacca Securities Sdn Bhd expects market sentiment to remain weak, given the third movement control order (MCO 3.0) environment, despite the positive performance on Wall Street, as well as geopolitical tension in the Middle East, bringing the Brent oil price slightly higher last Friday.

Meanwhile, the crude palm oil futures climbed above RM4,500 per tonne last week.

“Also, traders may look out for sectors with high earnings certainty ahead of the May reporting season, including packaging and plastic-related companies, on the back of higher demand amid the MCO. Besides, the commodity rally may shine a light on sectors such as plantation, energy and metal-related stocks,” it said in a research note today.

Among the heavyweights, Malayan Banking Bhd (Maybank) had advanced eight sen to RM8.29, Public Bank Bhd increased six sen to RM4.20, Petronas Chemicals Group Bhd (PetChem) gained five sen to RM8.15, Tenaga Nasional Bhd (TNB) appreciated seven sen to RM9.94, Maxis Bhd was flat at RM4.53, IHH Healthcare Bhd declined nine sen to RM5.36, Top Glove Corp Bhd slipped eight sen to RM5.27 and Press Metal Aluminium Holdings Bhd shed six sen to RM5.34.

On the index board, the FBM Emas Index recovered 14.17 points to 11,577.21, while the FBMT 100 Index improved 20.01 points to 11,253.98. 

However, the FBM Emas Shariah Index decreased 2.53 points to 12,927.87, the FBM ACE erased 48.53 points to 7,897.63 and the FBM 70 declined 29.15 points to 14,946.69. 

Sector-wise, the Plantation Index fell 32.89 points to 7,040.89, and the Industrial Products and Services Index slipped 0.95 of a point to 196.29, while the Financial Services Index soared 92.63 points to 14,943.17.