Bursa Malaysia opens easier

KUALA LUMPUR: Bursa Malaysia extended its losses from yesterday to open weaker this morning on mild profit-taking in selected heavyweight counters such as Genting and CIMB, dealers said.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,688.51, down 0.33 of-apoint from 1,688.84 on Tuesday's close.
Earlier, the index opened 1.70 points lower at 1,687.14.
However, market breadth was positive as gainers led losers by 139 to 86, while 204 counters were unchanged, 1,267 untraded and 15 others were suspended.
Turnover stood at 133.27 million shares worth RM78.46 million.
A dealer said investors were reluctant to take any positions and were unwinding ahead of Thaipusam holiday tomorrow.
"They are also expected to go for a long break," he said.
Meanwhile, Kenanga Research, in a note today, said it expected the FBM KLCI to take a breather from its recent climb over the past few days.
"The resistance levels are now found at 1,690 followed by 1,700, while support levels are tied at 1,690/1,660," it said.
The Industrial Index fell 0.26 of-a-point to 3,215.13, Finance Index rose 12.23 points to 14,881.91 and the Plantation Index increased 4.49 points to 8,176.72.
The FBM Emas Index was 3.80 points lower at 11,889.71, FBM70 slipped 6.68 points to 13,744, and FBMT100 Index declined 3.05 points to 11,575.66.
The FBM 70 fell 6.68 points to 13,744.73 and the FBMAce shed 14.18 points to 5,205.26.
The FBM Emas Syariah Index rose 4.39 points to 12,439.47.
Maintenance, repair and overhaul company, Serba Dinamik Holdings Bhd, made its debut on the Main Market of Bursa Malaysia this morning at RM1.53, a premium of three sen over its offer price of RM1.50 per share,
Among the actives, IFCA was flat at 47.5 sen, JAG added one sen to 15 sen, Tek Seng rose two sen to 80 sen and Hibiscus declined one sen to 52.5 sen.
Of the heavyweights, Maybank increased two sen to RM8.19, Public Bank, Tenaga and Sime Darby each were flat at RM20.20, RM13.38 and RM8.94, respectively.
Genting fell five sen to RM8.32 and CIMB erased two sen to RM4.95.
Gold futures contracts on Bursa Malaysia Derivatives were flat in the early session today on lack of demand.
As at 9.36am, February 2017, March 2017, April 2017 and May 2017 were pegged at RM172.40, RM172.05, RM172.60 and RM173.20 a gramme, respectively.
Turnover was nil, while open interest amounted to 307 contracts.
At 9.30am, the price of physical gold rose 56 sen to RM170.36 a gramme from RM169.80 a gramme at 5pm yesterday. — Bernama