Trading on Bursa to remain muted ahead of earnings season

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Benchmark index expected to trend within the 1,435-1,445 range, says analyst.

KUALA LUMPUR: Bursa Malaysia opened slightly lower amid cautious sentiment in view of heightened volatility on Wall Street, said a dealer.

As a result, the Dow Jones Industrial Average lost 367 points while the Nasdaq managed to stay above water, adding 47 points , supported mainly by Amazon while the US 10-year yield remains stubbornly high at 4.845%. At 9.05am, the FTSE Bursa Malaysia KLCI eased 0.60 of-a-point to 1,441.3 from Friday’s closing of 1,441.9.On the broader market, decliners edged past gainers 177 to 97 while 249 counters were unchanged, 1,869 untraded and 76 suspended.Among the heavyweights, Petronas Chemicals fell 4 sen to RM7.26, IOI Corp dropped 3 sen to RM3.89, Press Metal Aluminium shed 2 sen to RM4.86, Petronas Gas was down 6 sen to RM17.10 and Tenaga Nasional slid 2 sen to RM9.85.

On the index board, the FBM Emas Index dipped 2.97 points to 10,631.03, the FBMT 100 Index was down 2.77 points to 10,304.23 and the FBM Emas Shariah Index slid 5.96 points to 10,840.16.

 

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