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Bursa Malaysia opens marginally lower
Last update: 12/07/2018

KUALA LUMPUR, July 12 (Bernama)†--†Bursa Malaysia reversed yesterday's gains to open marginally lower this morning as weak market sentiment curbed investors' risk appetite.

At 9.09†am, the†benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.49 of-a-point†easier at 1,688.28 from Wednesday's close of†1,688.77.

The barometer index†opened 0.52 of-a-point†better at 1,689.29.

Sentiment in the market was clouded by the†unfavourable overnight Wall Street performance coupled with a sharp drop†in crude oil prices.

A dealer said the trade war tensions dragged on commodities markets, causing benchmark Brent crude to plunge†by US$5.46, or more than six per cent, to US$73.40 per barrel.

Meanwhile,†Maybank†IB Research Analyst†Nik Ihsan Raja Abdullah†said the FBM KLCI would come under pressure today amid the selloff on Wall Street.

"The sharp fall in oil price, arising from news that Libya will restore its production and worries over trade war that could hurt oil demand, will also weigh on sentiment.

"Technically, we expect the FBM KLCI to trade between 1,680 and 1,720 today. Downside supports are 1,658 and 1,630," he said in a note.

On the broader market, losers outnumbered†gainers 133†to 93, while 154†counters were unchanged, 1,490†untraded and 19†others suspended.

Volume stood at 98.98†million units valued at RM46.94 million.

Among heavyweights, Maybank†added one sen to RM9.15, while Public Bank and Tenaga†rose six sen each to RM22.86 and RM14.56 respectively.

CIMB†shed four sen to RM5.34, but Petronas Chemicals, IHH Healthcare and Maxis were all flat at RM8.54, RM5.90 and RM5.40 respectively.

Among actives, Sapura†Energy slipped one sen to 58.5 sen, Dagang†Nexchange†eased 1.5 sen to 38 sen while Diversified Gateway was flat at 7.5 sen.

Nestle (M) was the biggest loser in the opening session, losing RM2.00 to RM145.90, while KLK topped the gainers list in†bagging 36†sen to RM24.44.

The†FBM Emas Index declined†13.47†points to 11,875.28, the FBMT 100 Index dropped†12.03†points to 11,686.39 and the FBM 70 fell 47†points to 14,354.58.

The FBM Emas Shariah Index shed 14.07 points to 11,992.43 and the FBM Ace Index slipped 0.19 of-a-point†to 5,215.44.

Sector-wise, the Finance Index was 24.64 points lower†at†16,536.21, the Industrial Index trimmed 5.79 points to 3,138.54, but the Plantation Index rose 6.59†points to 7,518.44.

-- BERNAMA

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OPENING, WEDNESDAY, JULY 18
US 4.0530/0600
S'pore 2.9686/9748
100 Yen 3.5867/5939
Sterling 5.3131/3235
Euro 4.7238/7327
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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