Bursa Malaysia ended the Tuesday morning trading session weaker with the bell-weathered index FBM KLCI shaved 2.79 points lower or -0.19% at 1,490.77.
The main index extended its losing streak and opened lower today, weighed by profit-taking activities.
Investors may prefer to stay on the sideline ahead of long Chinese New Year holidays. Contributing to the lacklustre performance of the main index is the lack of fresh catalysts to give the boost for the bulls to charge higher. Meanwhile the downside risk is capped as investors expect the US Federal Reserve to raise the interest rate at a softer pace going forward following the declining US consumer price index (CPI) print.
At 9:00 am, the main index opened at 1,492.53 vis-a-vis Monday’s close of 1,493.56.
During the morning trading session, the index was traded in the range of 1,488.95 – 1,493.06.
Market breadth was negative, with decliners outweighed gainers 399 versus 322, while 397 counters were unchanged.
Meanwhile, total turnover was 1.58 billion units with total value of RM951.62 million.
Top five active counters for the morning session were Kumpulan Kitacon, Dagang Nexchange, Nationgate Holdings, Sapura Energy, Serba Dinamik,
Top five gainers were Heineken Malaysia, Kluang Rubber, Padini Holdings, Nationgate Holdings, Kein Hin International.
Whilst top five decliners were Malaysian Pacific Industries, Hextar Technologies Solutions, Hong Leong Financial Group, Fraser & Neave, Ajinomoto Malaysia.
