Bursa Malaysia opens easier

KUALA LUMPUR: Bursa Malaysia opened lower today on a lack of buying support and despite oil prices having surged to a 15-month high, a dealer said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.65 of-a-point lower at 1,667.62, against Wednesday's close of 1,668.27.

The index opened 0.53 of-a-point lower at 1,667.09.

Gainers trounced losers 106 to 70, while 152 counters were unchanged, 1,330 untraded and 20 others suspended.

Turnover stood at 61.70 million shares worth RM22.51 million.

Oil prices jumped as inventory fell to 5.2 million barrels, compared with a forecast for a 2.7 million barrels build.

Of the heavyweights, TNB improved two sen to RM14.40, Maybank added one sen to RM7.71, IHH Healthcare gained four sen to RM6.48, but Public Bank and Petronas Chemicals each eased two sen to RM19.78 and RM6.84 respectively.

Of the losers, Unisem declined seven sen to RM2.60, Genting and UMW both fell six sen to RM8.03 and RM5.84 respectively, MISC lost five sen to RM7.54, as Telekom, Hap Seng and Gamuda each contracted four sen to RM6.67, RM7.69 and RM4.88.

The FBM Emas Index lost 5.74 points to 11,802.68, but the FBM Emas Syariah Index gained 1.01 points to 12,455.33 and the FBMT 100 Index was 6.38 points lower at 11,501.95, with the FBM 70 sliding 14.61 points to 13,900.43.

However, the FBM Ace improved 2.65 points to 5,111.24.

The Plantation Index increased 2.61 points to 7,932.41, but the Industrial Index declined 1.28 points to 3,137.08 and the Finance Index fell 14.63 points to 14,359.98.
Gold futures contracts on Bursa Malaysia Derivatives were lower in early trade today with two contracts month traded.

At 10am, October 2016 and November 2016 fell 20 ticks each to RM170.10 and RM170.25 a gramme, respectively.

Meanwhile, December 2016 and January 2017 remained pegged at RM171.50 and RM171.35 a gramme respectively.

Volume transacted was four lots with open interest amounting to 271 contracts.

At 9.30am, physical gold was 18 sen better at RM164.90 a gramme from RM164.72 a gramme at 5pm on Wednesday. — Bernama