KUALA LUMPUR: Share prices on Bursa Malaysia opened weaker this morning on continued profit taking activities in selected heavyweight counters, dealers said.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,693.47, down 3.48 points, after opening 2.31 points lower at 1702.570.
Market breadth was negative with losers leading gainers 110 to 95, while 1,57 counters unchanged, 1,454 counters untraded while 49 others were suspended.
Turnover stood at 78.39 million shares worth RM28.81 million.
RHB Retail Research, in a research note, remained bearish on the FMB KLCI’s short-term outlook.
"Currently, we anticipate the immediate resistance level at 1,728.50 pts, which was the high of Oct 19.
"Hence, we advise traders to stay short, following our recommendation of initiating short below the 1,705 points level on Oct 21," it said.
Among heavyweights, Maybank was down three sen at RM8.52, Axiata slipped two sen to RM6.25 while TNB and Public Bank were flat at RM12.76 and RM18.40, respectively.
Among the most actively traded stocks, ES Ceramics declined 3.5 sen to 51.5 sen, Careplus added nine sen to 59.5 sen while Sumatec and EA Holdings were flat at 15 sen and 10 sen, respectively.
The FBM Emas Index was 21.40 points weaker at 11,709.97, the FBMT100 Index trimmed 18.80 points to 11,407.68 and the FBM Emas Shariah Index decreased 27.86 points to 12,469.83.
The FBM Ace, however, perked 9.24 points to 6,128.76 while the FBM 70 shed 3.98 points to 12,807.77. Sector-wise, the Finance Index was 9.51 points easier at 14,497.96, the Industrial Index depreciated 4.87 points to 3,354.49 and the Plantation Index dipped 21.49 points to 7,562.37. --Bernama