Market sentiment shaky over China’s economic woes

KUALA LUMPUR: Bursa Malaysia opened lower today as sentiment remained jittery over the deepening debt crisis of property developer China Evergrande Group coupled with the ineffectiveness of the Chinese government’s stimulus package, a dealer said.

Nevertheless, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said bargain-hunting activities are expected to emerge on the local front, buoyed by the positive developments in the US. On the broader market, decliners surpassed gainers 155 to 131, while 265 counters were unchanged, 1,744 untraded and eight suspended.Among the heavyweight counters, Maybank and CIMB improved 1 sen to RM8.80 and RM5.44 respectively, and Public Bank added 2 sen to RM4.08, while Tenaga Nasional lost 8 sen to RM9.91 and Petronas Chemicals fell 2 sen to RM7.17.

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